Bevolution Group, a US manufacturer of shelf-stable and frozen beverage products, has announced the acquisition of premium cocktail mix and smoothie maker Tropics Mixology.
Though financial terms have not been disclosed, the acquisition is the next strategic step in Bevolution’s commitment to delivering innovative beverage solutions to its customers and follows less than a month after the group was formed by the merger of Juice Thyme and Lemon-X.
Tropics Mixology’s product portfolio enjoys strong brand equity in the restaurant, convenience store and hospitality segments, serving customers in the continental US, the Caribbean and further afield, Bevolution said. The Tropics line of premium beverage mixes, in particular, would complement the company’s robust selection of shelf-stable and frozen juices, juice-based drinks, cocktail mixes, lemonades, energy drinks, teas, flavour shots, thickened and enhanced waters, and other beverage products.
“We are excited about adding Tropics Mixology to our portfolio,” said Bevolution Group chief executive officer Sam Lteif. “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 ten years with a continued 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.”
Bevolution Group chairman Alex Guiva continued: “Bevolution Group is a robust beverage platform focussed 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.”
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