The consumer brands private equity specialist is exiting the company for a reported £30 million.
Piper made a £5 million investment in the business in 2007. Since then, it has helped to grow Bottlegreen’s international presence and increase consumers’ awareness of the brand in the UK.
The soft drinks business, which was founded in 1989 by husband and wife Kit and Shireen Morris, has also undergone a major re-branding of its products, with the focus on driving significant sales increases and achieving an 11 per cent improvement in margin.
George Adams, partner at Piper, says, ‘When we invested in Bottlegreen we understood that we had an opportunity to work with an excellent management team to refresh the brand, broaden its distribution and extend the product range to take advantage of changing consumer tastes for more natural, healthy adult soft drinks.’
He adds that the agreement has achieved a ‘stunning return’ for its investors.
Simon Speers, managing director of Bottlegreen, led the original management buy-out by Piper.
Commenting on the sale, he says, ‘The partnership we have had with Piper has been excellent and throughout its investment the team have been incredibly supportive, providing expertise and resources when required to help us be our best.’