Dunn’s River Brands, which is backed by Fireman Capital Partners, has acquired a majority stake in New York City-based Temple Turmeric Inc, a maker of forward elixirs, wellness shots, and probiotics. No financial terms were disclosed. Whipstitch Capital advised Temple Turmeric on the transaction.
FRISCO, Texas–(BUSINESS WIRE)–Dunn’s River Brands (“DRB”), a strategic beverage platform formed in partnership with private equity firm Fireman Capital Partners (“FCP”), has acquired a majority interest in Temple Turmeric, Inc. (“Temple”). Temple is a manufacturer and marketer of function-forward elixirs, wellness shots, and probiotics, founded in 2009. Financial terms of the transaction were not disclosed.
Daniel Sullivan, Founder and Chief Innovation Officer of Temple, said, “It’s a very exciting opportunity and honor to partner with Dunn’s River Brands. DRB is a world class organization of experts in all aspects of beverage brand building. We are thrilled to be working together on remarkable multifunctional innovations.”
Ian Knowles, Managing Partner of DRB, said, “We are excited to welcome Temple and Daniel into the DRB family. This is a visionary brand, highly distinguished with a multi-functional product line and entrepreneurial energy. Daniel is an innovative entrepreneur and walking encyclopedia of product knowledge. With DRB’s resources, together we’ll be able to take the Temple brand to new heights.”
Chris Akelman, Principal at FCP, said, “Temple Turmeric is a great addition to the DRB platform and a good representation of brands with which we are looking to partner. Daniel has garnered a loyal following due to his vision. We are excited to see what he and DRB will do to move the brand forward.”
McDermott Will & Emery LLP acted as legal advisor to Dunn’s River Brands.
Whipstitch Capital acted as an advisor to Temple Turmeric, Inc.
About Temple Turmeric
Temple Turmeric, Inc. is the purveyor of the world’s first and finest family of ethically sourced, compassionately crafted beverages utilizing the world’s highest quality, Hawaiian Oana Whole Root Turmeric and other Symphonic Adaptogens. Our original line of Elixirs offers life force energy to experience in your daily adventure. Probiotics are enlightening refreshments with only 40 calories. Temple products can be found at Whole Foods and leading grocery retailers nationwide. Visit www.templeturmeric.com
About Dunn’s River Brands
Dunn’s River Brands was founded on the concept of converging strength exemplified by its namesake found in the beautiful Jamaican landscape. Dunn’s River is led by accomplished leaders from the beverage industry and seeks to partner with founders and management in emerging branded beverage companies to provide financial and strategic leadership. The DRB portfolio currently includes Sweet Leaf Tea, Tradewinds and Temple Tumeric. Visit www.dunnsriverbrands.com
About Fireman Capital Partners
Fireman Capital Partners invests in consumer-focused companies through both growth equity and buyout transactions. The private equity firm focuses on dynamic consumer businesses with revenues between 30MUSD and 150MUSD, who have a unique vision, strong product and market share, and sound management. FCP leverages its capital, extensive network, and deep operating expertise to add significant value. The firm is currently invested in CANarchy, Surfside Coffee Company, and Idea Paint with realized investments in Hudson Jeans, Pilla, Evolution Fresh, Serena & Lily, Newton Running and Skip Hop. Visit www.firemancapital.com