Bevolution Group, the provider of hot and cold beverage solutions to the foodservice industry, has announced its acquisition of Dr Smoothie Brands.
The deal will enhance Bevolution Group’s offerings in the speciality beverage categories, it said, and Dr Smoothie’s line of premium smoothies and beverage powders would complement Bevolution’s “robust” selection of shelf-stable and frozen products.
The Dr Smoothie product portfolio includes premium, clean-label smoothies; 100% Crushed smoothies; Fit-Lyte low-calorie and low-sugar smoothies; organic smoothies and frappes; Café Essentials range for coffee shops and cafés; and Smoothie-Ceuticals, a line of nutritional supplements.
“We are excited about adding Dr Smoothie Brands to our portfolio,” said Sam Lteif, Bevolution Group’s chief executive officer. “Our customers are looking for innovative products and solutions, and Dr Smoothie’s offerings are uniquely positioned to help us satisfy the demand in the market. We are continuing to deliver on our promise to be innovative and have the most comprehensive beverage solutions for the foodservice industry. Since its founding, Dr Smoothie has been at the forefront of health trends in the food industry, and we will continue this strategy with clean-label ingredient integrity and authenticity of flavours. We see a lot of exciting opportunities for this business, and together with Bevolution Group, Dr Smoothie will be able to continue its strong growth momentum.”
Bill Haugh, the founder of Dr Smoothie Brands, who will remain actively involved with the business, added: “The foodservice industry is embracing health-focused trends. Dr Smoothie Brands and Bevolution Group are well-positioned to continue exceptional growth and market share gains with our combined research and development capabilities, distribution channels, and manufacturing resources.
“Like Dr Smoothie, Bevolution Group is a customer-centric organisation that is dynamic, flexible, and creative, providing for a great cultural fit. We are excited for the future of Dr Smoothie Brands joining the Bevolution Group family and are looking forward to serving our customers even better than before.”
Bevolution Group chairman Alex Guiva continued: “We have created a unique beverage platform that is recognised as a leader in the foodservice industry. Dr Smoothie complements our product portfolio exceptionally well, and this transaction will provide significant benefits to both organisations. This is our third acquisition in the last 16 months, and we are excited to support the growth of Bevolution Group as it continues our proven model of supplementing organic growth with strategic acquisitions. We will search for additional M&A opportunities to enhance our market position, expand product offerings and grow our geographic presence.”
© FoodBev Media Ltd 2020
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