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Generous Brands, a portfolio company of private equity firm Butterfly, has announced that it has signed an agreement to acquire California-based soft drinks firm Health-Ade from fellow equity funds First Bev and Manna Tree Partners .
Founded in 2012, Health-Ade positions itself as a producer of “feel-good, bubbly beverages” with gut-health benefits, including kombucha, prebiotic sodas and cocktail mixers. The company has annual retail sales of $250 million and its products are available in 65,000 outlets nationwide.
Founded in 2024, Generous Brands is a refrigerated beverage company created through Butterfly’s restructuring of Bolthouse Farms that includes Bolthouse Farms drinks, Evolution Fresh cold-pressed juices, and acai specialist Sambazon.
Commenting on the move, Generous Brands CEO Steve Cornell said: “With its purpose-led brand and products that are positioned at the intersection of delicious taste and modern health trends, Health-Ade fits perfectly into our platform and growth strategy. This exciting addition to the Generous Brands portfolio will accelerate our mission of inspiring more people to thrive through the power of vibrant nutrition”.
The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions. Terms of the transaction were not disclosed.
Source: Generous Brands (via BusinessWire)
