Dunn’s River Brands (“DRB”), a strategic beverage platform formed in partnership with private equity firm Fireman Capital Partners (“FCP”), acquired a majority interest in Temple Turmeric, Inc. (“Temple”). Temple is a manufacturer and marketer of function-forward elixirs, wellness shots, and probiotics, founded in 2009. Financial terms of the transaction were not disclosed.
Daniel Sullivan, Founder and Chief Innovation Officer of Temple, said, “It’s a very exciting opportunity and honor to partner with Dunn’s River Brands. DRB is a world class organization of experts in all aspects of beverage brand building. We are thrilled to be working together on remarkable multifunctional innovations.”
Ian Knowles, Managing Partner of DRB, said, “We are excited to welcome Temple and Daniel into the DRB family. This is a visionary brand, highly distinguished with a multi-functional product line and entrepreneurial energy. Daniel is an innovative entrepreneur and walking encyclopedia of product knowledge. With DRB’s resources, together we’ll be able to take the Temple brand to new heights.”
Chris Akelman, Principal at FCP, said, “Temple Turmeric is a great addition to the DRB platform and a good representation of brands with which we are looking to partner. Daniel has garnered a loyal following due to his vision. We are excited to see what he and DRB will do to move the brand forward.”
McDermott Will & Emery LLP acted as legal advisor to Dunn’s River Brands.
Whipstitch Capital acted as an advisor to Temple Turmeric, Inc.