Private Equity Firm Acquires Neighborhood Seasonal Sweetened Water Stand
DES MOINES — KKR, a leading global investment firm and group of aspiring open sea pirates, disillusioned amateur golfers, and hardcore penis enviers, today announced the signing of a definitive agreement to acquire Nate’s Really Good Lemonlade Stand, the premier refreshment brand in the Des Moines, Iowa neighborhood of Oakridge. Financial details of the transaction were not disclosed.
Serving a growing network of local residents and schools in a two-mile radius, Nate’s Really Good Lemonlade delivers an industry-leading number of sweetness choices, offering customization in a market that demands increasingly personalized experiences. “I like when the lemonlade makes your face go like this *puckers cheeks* and also when you can make it really sweet because you put lots of sugar in it,” said six-year-old founder and CEO of Nate’s Really Good Lemonlade, Nate Kowalski.
Nate’s Lemonlade has been hailed as a breakthrough lifestyle refreshment product in a wildly competitive market. With its proprietary recipe, strong local customer base, and burgeoning sidewalk chalk presence, Nate’s Lemonlade has differentiated itself from mall food court titan Auntie Ann’s and soda machines everywhere. “Sometimes I put strawberries in the lemonlade,” said Nate about his differentiation.
“KKR is delighted to be investing in Nate’s Really Good Lemonlade, a disruptive independent brand that serves an untapped residential market, said Shep ‘I’m in Yachting Promotional Materials’ Kohler, Member of KKR. “Nate is one of those magnetic entrepreneurs, who you just know is going to take it to that next level in between soccer practice and swimming at his friend’s house,” added Kohler.
“At a time of accelerating change in the beverage vertical, Nate’s Really Good Lemonlade offers its growing customer base a best-in-class refreshment experience — something we’re excited to be a part of,” said Teddy ‘Trust Me, It’s Big Just Don’t Ask My Ex-Wife’ Overwager, Managing Director at KKR. “We look forward to working with the Company to further grow its beverage portfolio and network, and continue to build on its status as a recognized leader in the seasonal sweetened water space.”
KKR has a long history of successfully co-opting market-leading businesses in the food and beverage sector. “Priority one is bringing our world-class management to bear on streamlining operations,” said Kohler.
“The men are nice and they said they would help me be a cost-effective resource,” said Nate about KKR’s significant expertise enabling high-growth businesses. “But I had to tell my brudder and my best friend Dougie that they can’t work with me now. My brudder cried and I can’t swim in Dougie’s pool no more,” said Nate. Nate will no longer serve as President of the Board.
KKR’s recent and related investments include Callie’s Popsicle Stand, Little Drew’s Root Beer Floatz, and Chuck E. Cheese, among others.
KKR is making the investment in Nate Really Good Lemonlade from its KKR Cul-de-Sac XII Fund.
Goldman Sachs & Co. LLC served as the financial advisor to KKR and Simpson Thatcher and Bartlett served as legal advisor to KKR.
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