Castanea Partners has hired Tom First as a new operating partner focusing on opportunities in the branded food and beverage sector.
“We are thrilled that Tom will be joining our team,” said Brian Knez, Managing Partner of Castanea. “Tom is an extraordinarily successful serial entrepreneur, advisor, and investor. His deep passion and experience in the food and beverage space will bring a unique perspective to our existing portfolio and help us identify exciting new investment opportunities.”
Before joining Castanea, Mr. First was a Managing Partner at First Beverage Ventures, the investment arm of First Beverage Group. More famously, he was the co-founder of Nantucket Nectars, that was sold to Cadbury Schweppes (now Dr. Pepper Snapple (NYSE: DPS)) in 2002. He also founded O Beverage, which sold to Polar Beverages in 2010. Mr. First is also a minority co-investor in Essentia Water, a Castanea portfolio company since September 2014.
Castanea Partners invests from $15 million to $150 million in companies that operate in branded consumer products and services, including companies in specialty apparel and fashion, footwear and accessories, beauty and personal care, food and beverage, sporting goods, outdoor and leisure, household and juvenile products, and health and wellness. The firm is currently investing from its $600 million fourth fund that invests in companies with enterprise values up to $250 million. Castanea is headquartered near Boston in Newton, MA (www.castaneapartners.com).
© 2016 Private Equity Professional • 9-21-16
