A multidisciplinary team led by the Technology and Private Equity practices advised Nutrabolt in its announced strategic partnership with Keurig Dr Pepper Inc. (NASDAQ: KDP), which includes a long-term sales and distribution arrangement that leverages KDP’s powerful go-to-market capabilities and a significant equity investment that enables KDP to participate in the value creation upside expected to be created through the strategic partnership. The equity investment is expected to close by year-end.
KDP will make a cash investment in Nutrabolt of $863 million, or approximately $740 million net of anticipated cash tax benefits, in exchange for preferred equity with a 5% annual coupon paid in cash or in-kind. The investment provides KDP with an ownership stake of approximately 30%, making KDP the largest investor in Nutrabolt behind its Founder, Chairman and CEO, Doss Cunningham.
Nutrabolt is a fast-growing, global active health and wellness company with a portfolio of market leading performance-oriented brands that energize and fuel active lifestyles.
The Goodwin team was led by Brad Weber, Josh Soszynski, Bryan Quinn, Griffin Drake, Patty Shields, Alex Apostolopoulos, Alex Denniston and Kara Kuritz.
For additional details on the transaction, please read the press release.