CHICAGO, Nov. 2, 2015 /PRNewswire/ -- Highlander Partners' portfolio company, Bevolution Group, a leading cold and hot beverage solutions provider, today announced its acquisition of Tropics® Mixology, a premium cocktail and smoothie mix supplier, from Beverage Innovations.
Tropics® Mixology's high-quality, innovative product portfolio enjoys strong brand equity in the restaurant, convenience store and hospitality segments, serving customers in the continental U.S., the Caribbean and internationally. The Tropics® broad line of premium beverage mixes complements Bevolution Group's already robust offerings of shelf-stable and frozen juices and juice-based drinks, cocktail mixes, lemonades, energy drinks, teas, flavor shots, thickened & enhanced waters, and other beverage products.
The Tropics® product portfolio includes frozen and shelf-stable cocktail and smoothie mixes, frozen purees, caffeinated beverages, as well as bases and ingredients. Tropics® 100% Natural Infusions offers a wide range of frozen drink mixes utilizing only the highest quality fruits and ingredients. The Tiki Tropics® line of shelf-stable cocktail mixes satisfies demand for market leading tropical flavors, while Coco Tropics® offers the finest cream of coconut for smoothies, cocktails and baking applications.Tropics® Refreshers provides an all-natural option for consumers looking for a refreshing caffeine alternative to classic coffee beverages. The product portfolio also includes a line of IQF fruit and dairy-based coffee powders.
"We are excited about adding Tropics® Mixology to our portfolio," said Sam Lteif, Bevolution Group's Chief Executive Officer. "With this acquisition, we have already started delivering on our promise to continuously grow our product selection to meet customer needs. Tropics® has provided delicious frozen cocktail bases and smoothies to the foodservice industry for over 10 years, and the company continues its focus on innovation and new product development. We see a lot of exciting growth opportunities for this product line, and will dedicate significant resources to build upon its success."
Alex Guiva, Chairman of Bevolution Group and Partner of Highlander, commented, "Bevolution Group is a robust beverage platform focused on customer service, innovation and consumer trends. Following the acquisition of Lemon-X earlier this year, we are enhancing our product selection again with the acquisition of Tropics®, which we view as a perfect fit for our strategic vision and capabilities. We will continue our proven model of supplementing organic growth with strategic acquisitions, and will search for additional M&A opportunities to enhance our market position, expand product offerings and grow our geographic presence."
The acquisition of Tropics® Mixology follows the recent launch of Bevolution Group earlier this month, formed through the combination of Juice Tyme and Lemon-X to create a leading beverage platform serving the foodservice industry. This addition is the next strategic step exemplifying Bevolution Group's commitment to deliver innovative beverage solutions to its customers.
"At Beverage Innovations we are excited for the future of the Tropics® Mixology brand and its partners joining the Bevolution Group family," said Marc-Alexander Lange, Managing Partner at Beverage Innovations. "Our team of exceptional cocktail mix experts is joining the incredibly dynamic and driven group of beverage industry leaders at Bevolution Group. Continued focus on quality and integrated mixology programs at Tropics®, combined with Bevolution Group's strength in the juice category, will allow our customers to take advantage of greater efficiencies, enhanced field support and new value-add solutions to build even stronger bonds with our consumers. Beverage Innovations is looking forward to partner with Bevolution Group to help guide Tropics® Mixology into its next phase of accelerated growth."
FirstMerit Bank, as Administrative Agent, along with a syndicate of participating lenders, provided senior financing and Five Points Capital provided mezzanine debt in support of the transaction. Duff & Phelps Securities served as the advisor to Beverage Innovations.
About Bevolution Group
Bevolution Group is a leader in the manufacture of shelf-stable and frozen beverage products, and cocktail mixes. The company was established through the integration of long-time foodservice leaders Juice Tyme and Lemon-X in March 2015. To help foodservice customers keep up with increasing demand and fast-changing beverage trends, Bevolution Group offers a growing portfolio of innovative, high-quality beverage products, as well as equipment and service. The company also manufactures products customized to meet specific sensory and delivery needs. Bevolution Group is headquartered in Chicago with production facilities in Chicago, IL, Frostproof, FL, and Huntington Station, NY. For more information, please visit www.bevolutiongroup.com.
About Tropics® Mixology
Tropics® Mixology's product offerings include all-natural frozen fruit purees and shelf stable drink mixes, as well as high quality bases and premium ingredients used by renowned customers in the preparation of smoothies, culinary applications, alcoholic beverages and craft cocktails. Through rapid growth it became a leading supplier over the last 10 years to more than 3,500 restaurants and hospitality institutions in 22 countries worldwide.
About Beverage Innovations
Beverage Innovations' unique brand portfolio positions them as a leading and trusted resource for high quality products. Their experienced team of experts is committed to developing and advancing the industry with custom beverage programs across a broad spectrum of categories. The company provides value and increased profits based on a dynamic resource pool and passion for challenging the global markets. Beverage Innovations is headquartered in Delray Beach, FL. For more information please visit www.beverage-innovations.com.
SOURCE Highlander Partners