8.23.2006
TSG exits with $125 Million on VitaminWater - "Fat Pockets"
According to the TheDeal.com:"TSG Consumer Partners, formerly the Shansby Group, hit a home run with an exit from a 30% stake in Energy Brands Inc., maker of a vitamin- and herb-infused bottled water, for $677 million.
Energy Brands and Tata Group, a conglomerate from India, announced Wednesday, Aug. 23, an agreement to buy out TSG's stake.
The deal values Whitestone, N.Y.-based Energy, whose sole asset is the Glaceau infused-water business, at $2.25 billion. That is more than six times the $340 million in revenue observers said is projected for the company this year, a multiple that is considered extremely high.
Darius Bikoff, the quixotic founder and CEO of Energy Brands, and other shareholders will retain a controlling stake.
For TSG, the deal will translate into a stunning return of around 17 times its roughly $40 million total investment in Glaceau, whose product is called vitaminwater."
This article is kinda of making us a little sick so we will just stop now. All we have to say is damn the guys over at TSG Consumer Partners are pysched!
And so this ends another tale of our monthly series, "Fat Pockets" ...Till next time folks ;-)
