According to a press release posted on Fox Business, Nestle is buying Sweet Leaf:
After three years, Catterton Partners has finally quenched its thirst for iced tea.
The consumer-focused private equity firm is selling Sweet Leaf Tea Co. to Nestle SA’s (NSRGY, NESN.VX) Nestle Waters North America Inc., which had been an investor and partner for over two years.
The Austin-based company had brought its revenue to $53 million in 2010 from under $10 million when Catterton first got involved back in 2008, investing $18 million. Freestone Partners LLC was an earlier backer, investing in Sweet Leaf in 2006 and 2007.
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