Highlander Partners LP, a Dallas-based private investment firm, announced the acquisition of Juice Tyme Inc. Founded in 1980, Juice Tyme is a Chicago-based provider of shelf-stable, bag-in-box juice and beverage concentrates that primarily serves the foodservice industry.
Juice Tyme will continue to operate under its existing name and operating structure with its current management team, led by President and CEO Philip Scott. The Company's management team has successfully grown the business for the last seven years under the ownership of Encore Consumer Capital and has positioned Juice Tyme as a strong leader in the shelf-stable bag-in-box juice market.
Mr. Scott commented, "Juice Tyme is dedicated to providing our customers with the highest quality products and services available in the marketplace. Our partnership with Highlander will bring additional strategic support to the Company, especially in the areas of finance and sales and marketing. The management team at Juice Tyme strongly believes that this partnership will enhance the Company's growth prospects and is looking forward to sharing the benefits of this new relationship with our customers and employees in the future."
Alex Guiva, partner at Highlander and Chairman of Juice Tyme, stated, "Juice Tyme is an exceptional company with incredible potential for continued growth. We will leverage Highlander's hospitality and food industry expertise to focus on the Company's sales strategy and market penetration. In addition to organic growth efforts, we will actively seek juice, concentrate and beverage acquisition opportunities to expand Juice Tyme's offerings in the foodservice market and beyond."
Piper Jaffray & Co. acted as financial advisor to Juice Tyme in the transaction. FirstMerit Bank, N.A. provided a senior financing facility in support of the transaction.