Warburg Pincus-backed Full Sail IP Partners has acquired the rights to the Odwalla food and beverage brand from The Coca-Cola Company, as it looks to revive the brand after the soft drinks giant discontinued it last year.
According to Reuters, Odwalla is the first acquisition Full Sail IP Partners has made since its launch as a joint venture between Warburg Pincus and brand licensing specialists LMCA.
Founded in 1980, Odwalla offered plant-based fruit juices, smoothies and energy bars.
“We’re thrilled that Odwalla, with its long history of innovation, high levels of brand awareness and reputation for great products, will be our first acquisition,” said Full Sail’s CEO, Alan Kravetz.
“We look forward to providing consumers with the best tasting, artfully crafted functional beverages and foods to allow them to snack well, feel well and live well.”
Terms of the deal were not disclosed.