News

Nestle Waters N.A. invests $15.6 million in Sweet Leaf Tea

March 25, 2009

AUSTIN, Texas — Sweet Leaf Tea Co., the maker of organic, all-natural, iced teas, lemonades and other natural beverages, has announced that NestlÃ© Waters North America Inc. has made a $15.6 million investment in Sweet Leaf Tea Co.

In addition, the company announced that Dan Costello, a NestlÃ© Waters North America executive will relocate to Austin, Texas, to become president of Sweet Leaf Tea, reporting to company founder and chief executive officer Clayton Christopher. NestlÃ© Waters also will add two directors to Sweet Leaf Tea's board of directors.

NestlÃ© Waters North America joins private equity firm Catterton Partners as investors in Sweet Leaf Tea. Catterton is the investment company behind Build-a-Bear Workshop, PF Chang's China Bistro, Odwalla and Kettle Foods.

Sweet Leaf's products are available in about 30 percent of U.S. markets and can be found in stores such as Whole Foods, Kroger and Safeway.Sweet Leaf Tea was founded in 1998 by Clayton Christopher, then 25. Today, the company has 10 iced tea flavors and one lemonade flavor.