Nextoria advises 96North on its acquisition by Alphawell Brands

Nextoria acted as exclusive sell-side M&A advisor to 96North, an organic aromatherapy candle brand, on its acquisition by Alphawell Brands (then Alphagreen Group), a London-based acquisition and incubation platform with a health and wellness focus.

About 96North: a US-grown home fragrance brand on Amazon

96North makes natural aromatherapy candles. The brand grew in the US, expanded into the UK, and had been selling on Amazon since 2020, where it ranked in the top 1% of jar candles.

The transaction: Alphawell's first Amazon brand

96North was Alphawell's first acquisition in the Amazon marketplace (FBA) space, chosen after due diligence on more than 40 brands. The group planned to extend the range into reed diffusers, mists and more, and reported that 96North was on track for 260% growth in the 12 months after the acquisition.

Nextoria's role: a sale closed on a tight timeline

The founders needed the deal done fast. Nextoria prepared the materials, got the buyer to submit its letter of intent on Christmas Eve, and kept the process moving through the holidays so the asset purchase agreement was signed before mid-January.

My co-founder and I were absolutely delighted with the quality of service that the Nextoria team provided. From the moment that we started working with Nextoria, the entire exit process went extremely smoothly, and the team was always very responsive. I was particularly impressed with the quality of work Nextoria put into creating all the materials required for our exit: the Nextoria team delivered an outstanding pitchbook for 96North within two weeks.

Even more impressively, because we were on a very tight schedule, we needed Nextoria to convince the buyer to submit their LOI on Christmas Eve and then continue working through the entire holiday season so that we could close the deal and sign the APA before mid-January. Incredibly, Nextoria delivered and we were able to execute a great exit right on time.

96NJack S.Co-founder, 96North

96North is a proud addition to our portfolio and we are excited to explore the potential this brand has for further product offerings in the home fragrance and aromatherapy niche.

ABAlexej PikovskyFounder and CEO, Alphawell Brands

Source: Alphagreen Group press release on GlobeNewswire.