US-based private investment firm Highlander Partners has acquired Lemon-X, a manufacturer and supplier of juices, juice blends, lemonades, teas and cocktail mixes.
The financial terms of the deal have not been disclosed.
Lemon-X has production facilities in Huntington Station, New York, which also serves as the corporate headquarters, and in Frostproof, Florida.
Lemon-X , which started operations over four decades ago, will continue its business operation from both the Long Island and Florida facilities in the same way it did earlier. The alliance of Lemon-X and Juice Tyme will boost the latter's market penetration, geographic coverage, and product offerings.
Juice Tyme chairman Alex Guiva said: "We are excited to combine Juice Tyme with Lemon-X and use the strength of both organizations to create a robust beverage platform focused on customer service, innovation and consumer trends.
"The beverage space is a large and ever-changing industry and we believe that the combined company will be able to achieve more growth than on a stand-alone basis. We look forward to leveraging our enhanced library of products and formulations to better serve our customers with innovative offerings and additional resources."
The acquisition of Lemon-X is part of Highlander's ongoing "buy and build" strategy.
Guiva said: "We will continue our proven model of supplementing organic growth with strategic acquisitions, and we will search for additional M&A opportunities to enhance our market position, expand product offerings and grow our geographic presence."
