An investor group led by Swander Pace Group, Dragoneer Investment Group and co-investors that include Katy Perry and Orlando Bloom, has acquired Santa Barbara, California-based Bragg Live Food Products Inc, a producer of apple cider vinegar. No financial terms were disclosed.
SANTA BARBARA, Calif.–(BUSINESS WIRE)–Bragg Live Food Products, Inc. (“Bragg”), one of the oldest and most trusted health and wellness brands and the world’s top producer of apple cider vinegar, today announced that it has been acquired by an investor group led by Swander Pace Capital, a leading private equity firm specializing in investments in consumer products companies, Dragoneer Investment Group, a growth-oriented investment firm, and co-investors singer and songwriter Katy Perry, actor Orlando Bloom, and the founder of Pressed Juicery, Hayden Slater.
Founded in 1912 by renowned health advocate Paul Bragg, Bragg is the pioneer of apple cider vinegar, and offers a broad portfolio of other health-focused food and dietary products including condiments, seasonings, dressings, and ready-to-drink beverages. Bragg products are available in natural food stores, conventional grocery, mass market, and e-commerce retailers globally.
“I have spent my entire adult life traveling the world, sharing the Bragg mission with people everywhere, and teaching the benefits of living a truly healthy lifestyle,” said Patricia Bragg, CEO of Bragg Live Foods for 65 years. “I am so thrilled to partner with Swander Pace, Katy and Orlando, Dragoneer and Hayden to bring Bragg products to more people. Everyone needs to take control of their health to live a long, vital, happy life. This is a very special moment for our brand, and I can’t wait to reach millions more people worldwide.”
“Bragg is a uniquely authentic and storied brand with a highly loyal, multi-generational following in the health and wellness space,” said Andrew Richards, CEO and Managing Director of Swander Pace. “The company enjoys a dominant position in the high-growth apple cider vinegar category, and a long and successful history with its range of healthy products. We are excited to work closely with Bragg’s leadership team — including Patricia Bragg — as we embark on the company’s next chapter of growth.”
Katy Perry added, “Patricia has been part of my family forever, even giving me my first guitar. My mother introduced me to Bragg products, and it’s been a staple since my childhood in Santa Barbara and continues to be a wellness remedy in my professional vocal career. I’m deeply familiar and aligned with Patricia’s mission to make the world a healthier and better place, and I am so honored to have the opportunity to be a part of the team that will bring the magic of the brand to a new generation of consumers.”
About Bragg Live Foods
Founded in 1912 by Paul Bragg and headquartered in Santa Barbara, CA, Bragg Live Food Products (“Bragg”) is a pioneer brand that has evolved into a portfolio of health and wellness products including apple cider vinegar, amino acids, nutritional yeast, dressings, seasonings, and ready to drink products. Its products are available in natural foods stores, supermarkets, mass market retailers and e-commerce retailers globally.
About Swander Pace
Swander Pace Capital (SPC) is a private equity firm that invests in companies that are integral to consumers’ lives. SPC’s consumer industry expertise informs the firm’s strategic approach and adds value through access to its history of successful strategies, senior team, and extensive network. SPC invests in businesses across three domains of consumer lifestyles: Food + Beverage, Body + Wellness, and Home + Family. SPC’s prior branded investments include Applegate, Kicking Horse Coffee, Liberté, Merrick Pet Care, Renew Life Formulas, Alden’s Organic Ice Cream, and Swanson Health Products, among others. With offices in San Francisco, New Jersey, and Toronto, SPC has invested in more than 50 companies and has raised cumulative equity commitments of approximately $1.8 billion since 1996. For more information, visit www.spcap.com.
About Dragoneer Investment Group
Dragoneer is a San Francisco-based growth-oriented investment firm with more than $7 billion in long-duration capital from many of the world’s leading endowments, foundations, sovereign wealth funds, and family offices. Dragoneer has a history of partnering with management teams growing exceptional companies characterized by sustainable differentiation and superior economic models. The firm’s track record includes public and private investments across industries and geographies, with a focus on technology-enabled businesses. Dragoneer has been an investor in companies such as Airbnb, Alibaba, AmWINS, Appfolio, Dollar Shave Club, Etsy, Mercado Libre, PointClickCare, Slack, Spotify, Square, Twilio, Uber and others.