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Bobble Purchased by Seventh Generation

Bobble Purchased by Seventh Generation

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Published by Kitchenboy
In a curious move, bobble has agreed to be purchased by Seventh Generation. I wonder why such a young rising company sells out? Time will tell if the new partnership is a success. Read my take on the subject...
In a curious move, bobble has agreed to be purchased by Seventh Generation. I wonder why such a young rising company sells out? Time will tell if the new partnership is a success. Read my take on the subject...

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Categories:Types, Resumes & CVs
Published by: Kitchenboy on Jun 08, 2013
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07/15/2014

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bobble Purchased by Seventh Generation
ByKitchenBoy, June 8, 2013Recent news from the world of kitchen tools is that Seventh Generation, a 25-year pioneer in thesustainability arena and one of the nation’s leading green brands, has announced its acquisition of NewYork-based bobble, a leading brand in the rapidly growing reusable, self-filtering water bottle category.The financial details of the deal were not disclosed in the press release.According to the companies, they share an aligned mission centered on human and environmentalhealth which makes bobble a perfect addition to Seventh Generation’s expanding product portfolio andan ideal first milestone in Seventh Generation Ventures, Inc. The company’s new business enterprise isengineered to continue record growth in part through greener lifestyle category extensions. bobble products at AmazonIntroduced in 2010 bobble, for those who don’t know, is a reusable water bottle that filters water as youdrink. It was created by Move Collective, LLC, and designed by industrial designer Karim Rashid. bobble gives consumers an environmentally friendly, BPA-free replacement to single-serve plasticwater bottles, most of which end up as discarded surface trash or in landfills. With bobble’sinterchangeable and replaceable filters, you can improve the taste of water from the tap no matter where you are. It is this filtration aspect that separates bobble from the myriad of personal drink containers available today. bobble products have been well received by consumers and press alike having won multiple prestigiousindustry awards in their short three year history.“Purchasing bobble marks the beginning of the next chapter of our story,” Seventh Generation CEOJohn Replogle stated. “We’ve established a very strong core in our home-care, baby, and health & beauty lines. Now we seek to extend our influence and spread our practices more broadly by acquiringinnovative brands in the sustainability space. The acquisition of bobble fulfills that mandate and brings
 
with it a tremendous product line that helps secure our leadership position as the company of choice for consumers interested in a healthy, sustainable lifestyle.”Seventh Generation products at AmazonWith regard to bobble, the companies see a rich cultural synergy. Seventh Generation intends to preserve the brand, retain the founders and build on the legacy and values of the team. The companywill also continue bobble’s relationship with famed designer Karim Rashid, whose unique visualimprint can be found across the bobble line. bobble co-founders Stephanie Watson and Richard Smiedt, who will join the Seventh Generation team,offered “We’re like corporate soul mates — they understand our values, our customers and our company in a way no one else has. We would equate it more to an adoption than a buy-out. We areexcited to be partners as part of a growing family with a shared passion for our brands and alignment of mission.”
Kitchenboy Wonders Why Sell bobble?
Journalists are supposed to ask the key questions like the Who, What, Where and Why. The pressrelease from Seventh Generation answers all but the last, the Why. Even the Wall Street Journal (WSJ)article reporting on the story – the first place I had heard the news – did not answer the Why.I can deduce that for a publication like the WSJ the Why is implied: this is what businesses do. Areasonable offer was made by a logical new owner and the deal accepted. In all honesty if someonecame to me tomorrow, made a reasonable offer for this little publication site and offered me a positionin their company, I would accept. Then again, I don’t have employees and their families to consider.According to the report in the WSJ, in 2007, San Francisco venture-capital firm Catamount Ventures paid more than $10 million for a minority stake in Seventh Generation, whose other shareholdersinclude employees and a few family investment funds. The investment valued the company at roughly$100 million at the time, according to a person familiar with the matter.Jed Smith, a partner at Catamount, commented that his fund doesn’t have a specific exit strategy for Seventh Generation but believes it could one day be a public company or a possible acquisitioncandidate for a larger consumer-products maker.“We’re not actively trying to sell the company. We think its peak value is several years away,” Mr.Smith informed, adding that the current plan is “to grow it as large as we can.”“Seventh Generation currently has no debt and is cash flow positive,” Mr. Replogle added.

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