Rowdy Mermaid Drink Group purchased by investors led by Next Natural
Rowdy Mermaid, a US functional beverage company, has been acquired by a group of investors including Natural Next.
New York-based Brooklyn invests in emerging and you-focused companies in Natural and joins with “strategic investor” Karpreilly and Sapient Stews founder Luke Comer.
The deal is intended to position the Colorado-based Rowdy Mermaid as “the next phase of growth” and to enhance its capabilities “from production to marketing,” a statement said.
Rowdy Mermaid founders Jamba Dunn and Erin Donnelly will retain their respective CEO and Director of Customer Growth and Marketing.
The company owns the Good Sentiment Soda brand of Ashwagandha and its own organic kombucha drink range.
Rowdy Mermaid said it is “committed to” beverages using functional botanicals and “sustainable procurement” ingredients.
“With Natural's cross-functional team, network and expertise next, Rowdy Mermaid will better serve our customers and expand our community,” Donnelly said.
Next in Natural CEO Jeff Lichtenstein was appointed chairman of the board, bringing experiences from brands such as Chobani and La Colombe to the table.
“Rowdy Mermaid represents the epitome of the next step – passionate task-driven leadership and fun marketing, delicious, organic and functional ingredients; these ingredients fit with our values and more consumers want,” Lichtenstein said.
Next Natural's COO Kristine Laurel stressed that the investment company's shared services platform will help Rowdy Mermaid “thrive with full support, which will strengthen its supply chain and support future innovation.”
Meanwhile, Karpreilly is a Connecticut private equity firm focusing on the consumer goods sector. As the name suggests, Sapient Stews, founded by Comer in Denver, is a manufacturer of healthy stews.
The next investment was to acquire a majority stake from Aura Bora, a bubble water maker in San Francisco in February.
Aura Bora uses “cold carbonation” and “reverse osmosis filter” canned glittering water from the aromas and extracts of herbs, fruits and flowers, resulting in the drink claiming “free of PFA and citric acid.”
“Rowdy Mermaid Drink Group, a Investor-led Investor, was originally created and published by Just Frains, a brand owned by GlobalData.
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