Full Sail IP Partners has announced the acquisition of juice and smoothie brand Odwalla from Coca-Cola for an undisclosed sum, according to a Reuters report
Founded in 1980, Odwalla is a producer of plant-based fruit juices, smoothies, and energy bars.
According to sources, Full Sail IP Partners plans to expand the Odwalla brand beyond the drinks category into food and supplements, making products with health benefits.
Full Sail IP Partners CEO Alan Kravetz said: “We think that nutrition, health, wellness, vitamins, minerals – ingredients that really provide health benefits, in addition to tasting good – are the wave of the future. We intend to include them in the Odwalla products”.
This is the first acquisition Full Sail IP Partners has made since forminh a joint venture between Warburg Pincus and brand licensing consultant LMCA in April.
“There are brands out there that have been owned by large companies that don’t fit their strategy going forward”, Mr Kravetz added. “And being smaller and more narrowly focused, we can develop these brands in a way a larger company can’t”.