Generous Brands, a Butterfly portfolio company and a leader in premium refrigerated beverages offering the Bolthouse Farms, Evolution Fresh and SAMBAZON brands, announced it has signed a definitive agreement to acquire Health-Ade, a leader and innovator in kombucha tea beverages, from private equity firms First Bev and Manna Tree Partners (Manna Tree), who will continue on as minority shareholders in Generous Brands.

Following the close of this transaction, Generous Brands will have four brands (Bolthouse Farms, Evolution Fresh, Health-Ade and SAMBAZON beverages) that span the juice, smoothie, kombucha, cold-pressed, protein, coffee and alternative soda categories. The portfolio will be distributed in a diverse set of channels and have nearly $1 billion in retail sales. Generous Brands also produces and sells premium refrigerated dressings under the Bolthouse Farms brand. With significant owned manufacturing capabilities, a differentiated distribution network and a best-in-class commercial organization, Generous Brands is well-positioned to deliver growth and innovation for retailers and consumers alike for years to come, the company says.

As health-conscious consumers continue to prioritize a healthy lifestyle, Generous Brands is strongly positioned for the future with its leading brands, which offer an assortment of beverages packed with clean ingredients, including nutritional shakes and smoothies, and super premium juices. Health-Ade is one of the leading brands in the kombucha segment, which has been propelled in recent years by consumer interest in gut health products; Health-Ade’s category-leading kombuchas offer delicious functionality powered with probiotics and immune-boosting antioxidants, the company says.

Since its founding in 2012, Health-Ade has evolved from selling its flagship kombucha at local farmers markets into what is now a top-selling functional beverage brand in the U.S., with retail sales approaching $250 million annually and products in 65,000 outlets nationwide, spanning all major retail channels, the company says. The kombucha segment has experienced consistent growth over the last five years, and Health-Ade is on track to continue growing in this expanding category, it adds. With the addition of Health-Ade, Generous Brands expects to bring the benefits of scale to consumers and retailers ― faster and more transformative innovation, broader availability, and additional investments to drive overall category growth for retail partners.

Generous Brands was established in May 2024 as a leading pure-play premium refrigerated beverage platform with Butterfly’s separation of Bolthouse Farms into two standalone entities: Bolthouse Fresh Foods, which encompasses the legacy produce operations of Bolthouse Farms and is a leading supplier of fresh carrots, and Generous Brands.

With First Bev and Manna Tree, Health-Ade focused on expanding distribution and profitability through operational excellence, innovation and brand building, it states.

The transaction is subject to customary closing conditions and is expected to close in Q3 2025. Terms of the transaction were not disclosed.