A Santa Barbara South Coast-based food brand known around the world has been acquired by an investment group.
Bragg Live Food Products, Inc., with headquarters at 199 Winchester Canyon Road, has been purchased by a consortium of investor groups, including co-investors and engaged celebrity couple Katy Perry and Orlando Bloom.
Other investors include Swander Pace Capital, a private equity firm specializing in investments in consumer products companies; Dragoneer Investment Group, a growth-oriented investment firm; and Hayden Slater, the founder of Pressed Juicery.
“I have spent my entire adult life traveling the world, sharing the Bragg mission with people everywhere, and teaching the benefits of living a truly healthy lifestyle,” Patricia Bragg, CEO of Bragg Live Foods for the past 65 years, said in a statement.
“I am so thrilled to partner with Swander Pace, Katy and Orlando, Dragoneer and Hayden to bring Bragg products to more people. Everyone needs to take control of their health to live a long, vital, happy life. This is a very special moment for our brand, and I can’t wait to reach millions more people worldwide,” she added.
The company was founded inn 1912 by health advocate Paul Bragg; It is the pioneer of apple cider vinegar, and offers other health-focused food and dietary products including condiments, seasonings, dressings, and beverages, according to a news release. Bragg products are available in natural food stores and conventional grocery stores locally and around the world, in addition to online.
Pop star Katy Perry, who grew up in Goleta and attended Dos Pueblos High School, said Patricia Bragg is a lifelong friend. Bragg gave the singer her first guitar.
“My mother introduced me to Bragg products, and it’s been a staple since my childhood in Santa Barbara and continues to be a wellness remedy in my professional vocal career,” Perry said in a statement.
“I’m deeply familiar and aligned with Patricia’s mission to make the world a healthier and better place, and I am so honored to have the opportunity to be a part of the team that will bring the magic of the brand to a new generation of consumers.”
Bragg will continue on her role as CEO.
“Bragg is a uniquely authentic and storied brand with a highly loyal, multi-generational following in the health and wellness space,” said Andrew Richards, CEO and Managing Director of Swander Pace.
“The company enjoys a dominant position in the high-growth apple cider vinegar category, and a long and successful history with its range of healthy products. We are excited to work closely with Bragg’s leadership team — including Patricia Bragg — as we embark on the company’s next chapter of growth.”
Swander Pace Capital has invested in more than 50 companies and has raised cumulative equity commitments of approximately $1.8 billion since 1996, according to a news release. San Francisco-based Dragoneer Investment Group has invested in companies such as Airbnb, Etsy, Slack and Uber.
— Noozhawk staff writer Joshua Molina can be reached at jmolina@noozhawk.com. Follow Noozhawk on Twitter: @noozhawk, @NoozhawkNews and @NoozhawkBiz. Connect with Noozhawk on Facebook.
