Sweet Leaf Tea Co. has acquired Cincinnati competitor Tradewinds Beverage Co., the Austin Business Journal reported.
Austin-based Sweet Leaf Tea Co. expects the purchase to help it expand its market reach, especially in the Midwest where Tradewinds has strong distribution channels.
Tradewinds makes teas and juices kettle-brewed in Ohio. The company will continue day-to-day operations as normal, but the Tradewinds label will slowly integrate Sweet Leaf marketing.
Sweet Leaf also recently received a $15 million investment, introduced three new flavors and a 16-ounce can and reported that Nestlé Waters North America is now a partner, according to the Austin Business Journal. Last year the company reportedly invested $15.6 million.
“We are in the unique position of being an emerging brand backed by strong financial partners that can afford to grow both organically and through acquisition, and know that Tradewinds will only make us stronger,” said Sweet Leaf Chief Financial Officer Brian Goldberg.
Sweet Leaf, founded in 1998, bottles about 10,000 gallons of tea a day and is distributed in every U.S. state.