The Surprising Reason Why Celeb Couple Katy Perry & Orlando Bloom Decided to Acquire This World-Famous Company
Engaged celebrity couple Katy Perry and Orlando Bloom are known for many things but business is definitely not one of them. So, the recent news of the ‘Dark Horse’ singer and the ‘Lord of the Rings’ actor’s acquisition of a world-renowned company, Bragg Live Foods, may come as a surprise to some.
However, there seems to be more about the business decision than a simple transaction.
Apparently, the 34-year-old pop star is actually a lifelong friend of Patricia Bragg, the daughter-in-law of the company’s founder. In fact, it was actually Bragg who gave Perry her very first guitar.
In a statement, Perry also said that she grew up with Bragg products being staples in their home in Santa Barbara. What more, she said that she still continues to use their products as a wellness remedy in her career as a singer. Perry then expressed her pride in being a part of the brand as it gears to bring its products to a new generation of consumers.
The celebrity couple is now part owners of the company after it was acquired by a group of investors and companies. Other investors include the likes of Dragoneer Investment Group, Swander Pace Capital and Hayden Slater. The 90-year-old Bragg would reportedly keep her position as CEO of the company, which she’s held for 65 years.
Meanwhile, Bragg has also expressed her excitement to partner with the companies as well as Perry and Bloom. Saying how this is a special time for the Bragg brand, she said that she was excited to bring their health products to millions of people in the world. She also recalled the years she spent traveling to spread the company’s message of the benefits of living a lifestyle that’s truly healthy.
Known primarily for its famous apple cider vinegar, the company was founded in 1912 by Paul Bragg. Aside from the aforementioned product, the brand also offers plenty of other health-focused foods from dressings, seasonings and even beverages which are sold in thousands of both regular grocery stores and health food stores all over the world.
Speaking about the recent acquisition, Swander Pace CEO Andrew Richards commented about the company’s ‘dominant position’ especially in the apple cider vinegar market which he described as ‘high-growth’. He also talked about Bragg’s multi-generational consumers and long history in the health and wellness category.
Swander Pace has reportedly invested capital in more than 50 other companies. Meanwhile, Dragoneer Investment Group has investments in relatively young companies like the work software Slack, the transportation app Uber, the e-commerce site Etsy and hospitality and rental service Airbnb.
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