Generous Brands Completes Acquisition of Health-Ade

Leader in kombucha tea beverages to strengthen Generous Brands’ expanding portfolio

Los Angeles-based Butterfly’s portfolio company Generous Brands, a leader in premium refrigerated beverages, including the Bolthouse Farms, Evolution Fresh and SAMBAZON brands, has announced that it has completed its acquisition of Health-Ade, a fast-growing leader and innovator in kombucha tea beverages, from private equity firms First Bev and Manna Tree Partners, who will also continue on as minority shareholders in Generous Brands.

Since launching in spring 2024, Generous Brands has built a portfolio that spans juice, smoothie, kombucha, cold-pressed, protein, coffee and alternative soda categories. The fast-growing Health-Ade brand will complement existing portfolio brands Bolthouse Farms, Evolution Fresh and SAMBAZON beverages to create a leader in premium refrigerated beverages. The new portfolio, nearing $1 billion in retail sales, will have meaningful scale, channel strength and significant owned manufacturing capabilities, cementing its leadership position in the category.

“This is an exciting milestone for Generous Brands, bringing a leading, premium brand into our portfolio,” said Steve Cornell, CEO of Generous Brands. “The acquisition of Health-Ade solidifies our position as a growth-oriented leader in the marketplace and reflects our commitment to meeting evolving consumer expectations. With the power of scale, we look forward to meeting more consumers with products that are at the intersection of vibrant taste and clean nutrition through transformative innovation and broader availability.”

The Health-Ade brand has grown rapidly from its origins as a kombucha sold at the Brentwood Farmers Market in 2012 to become a top-selling functional beverage brand in the U.S., with retail sales approaching $250 million annually and products in 65,000 outlets nationwide. The kombucha segment has experienced consistent growth over the last five years, and Health-Ade is on track to continue growing in this expanding category.

Lazard is acting as financial advisor to Health-Ade, and Baker McKenzie is acting as its legal advisor. Kirkland & Ellis advised Generous Brands and Butterfly as their legal counsel.

Butterfly is a leading “seed to fork” food ecosystem investor.

Information was sourced from Businesswire. To learn more, contact pro-GenerousBrands@prosek.com.