Tully & Holland Announces Sale of Calcium Spring Water Bottler & Distributor

Tully & Holland Incorporated is pleased to announce another successful conclusion to a sell-side M&A advisory engagement. The firm represented Cole Water Company, LLC of Peru, Indiana, in its sale to Idea Sphere Inc., of Grand Rapids, Michigan, whose principal offices are in New York, New York.

Tim Tully, President of Tully & Holland, stated, "We couldn't be more pleased with the outcome for the seller, whose members include two first-rate private equity groups, Circle Peak Capital and Scimitar Global Ventures, as well as third-generation members of the founding family, all of whom we represented in the transaction. This was the ideal buyer for Cole, whose naturally-fortified calcium spring water will be well received by Idea Sphere's broad distribution network of over 14,000 retail doors and strong presence in the health and natural food channel."

This successfully completed assignment, along with the firm's recent hiring of beverage industry veteran Al Rossow as Managing Director, underscores Tully & Holland's commitment to providing world-class investment banking services to middle-market beverage companies. Al, the latest member to join the firm's team, has spent more than three decades in the beverage industry working and consulting for such companies as Pepsi-Cola (VP), Coca-Cola USA, A&W Beverages (CEO), Kendall-Jackson (CFO), Cadbury-Schweppes, Perrier, and Boston Beer (Director/CFO/COO).

Tully & Holland Incorporated is an investment bank established in 1992 devoted to providing middle market consumer product companies with corporate finance and merger & acquisition advisory services. The firm has particular expertise representing multi-channel marketers, retailers, toy & craft companies, and food & beverage manufacturers and distributors. Together, the managing directors have over 140 years of combined experience - general management as well as financial advisory - in consumer, retail and direct marketing companies. 

Recent transactions in which Tully & Holland has participated include such companies as Hormel Foods Corporation, Sundance Catalog, Cains Foods L.P., Vermont Teddy Bear Company, and 1-800- Flowers.com, Inc. Interested parties may visit the website at www.tullyandholland.com for further detailed information on the firm and its recent activities or contact Timothy W. Tully, President, at (781) 239-2900 ext 14 or ttully@tullyandholland.com.