IMAP USA (Capstone Partners) advises Seventh Generation/Unilever on its divestiture of bobble®
Capstone Partners LLC, announced that it has successfully advised Seventh Generation, Inc. (SVG), a subsidiary of Unilever, on the divestiture of its bobble® brand to O2COOL®, a portfolio holding of LKCM Headwater Investments. According to Ted Polk, Managing Director at Capstone, “It was a pleasure to work with the SVG team and to represent such a unique brand. With its patented bottle design and filtration features, bobble® has clearly differentiated its product offering within an attractive market space.” Terms of the deal were not disclosed.
Established in 2009, bobble® is an innovator in the rapidly growing reusable, on-the-go drinkware industry, offering a high-quality, high-design lineup of hydration, filtration, and coffee/tea products. With its mission to reduce the outrageous waste of single-serve, disposable beverages and beverage systems, bobble® is a category leader in providing consumers stylish, sustainable alternatives they actually want to carry all day long. The brand’s original reusable bottle design blends style and function, with the ability to filter water while you drink. bobble® also boasts a patented, distinct and recognizable bottle shape. Today, bobble® has over 20 SKUs in five main product categories including bobble Insulate™, bobble Infuse™, bobble Classic and bobble Sport, and its ‘brew on-the-go’ coffee/tea Presse™ by bobble.
SVG, a leading provider of environmentally-friendly household and personal care products acquired bobble® in 2013 as part of its sustainability initiatives and subsequently made substantial investments in its product design, brand positioning and marketing. In 2016, Unilever looked to bolster its natural and organic product portfolio and acquired SVG. Capstone was then retained to help divest bobble®, a business with significant brand appeal and strong long term growth prospects. On behalf of SVG, Joe Bowman of SVG Ventures noted that “We are excited that bobble® has found an attractive home at O2COOL and wish the new owners much success with the brand.”
Founded in 1992, O2COOL is a leading designer, manufacturer and distributor of creative consumer products. The company specializes in patent-protected cooling, hydration, and patio, pool and beach solutions that appeal to active consumers and pet owners. O2COOL’s innovative, multi-functional and Cool by Design™ products include an extensive list of handheld misting fans, battery-operated and rechargeable fans, and drinking and misting bottles. The 25-year-old company has significant retail placement and deep sales relationships across multiple market channels, including sporting goods, mass, specialty, grocery, drug, hardware/do-it-yourself, healthcare, ecommerce, theme park, and more. In March 2017, O2COOL partnered with LKCM Headwater Investments to launch growth initiatives, particularly add-on acquisitions, aimed at providing more innovative products for its customers and expanding the end-market segments which it serves.
Joe Bowman, Finance Director at Seventh Generation Ventures commented:
"First and foremost, Capstone is a team of professionals at every level. They took the time to understand our business and marketed the deal well. After LOI, they kept the deals momentum even as we dealt with several twists and turns. We can confidently refer people in our network to them because we know they will be in good hands and we look forward to working together on deals in the future."