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Bevolution Group acquires Dr. Smoothie Brands

DBR Staff Writer Published 01 August 2016

Bevolution Group, the portfolio company of Highlander Partners announced that it has acquired Dr. Smoothie Brands.

Dr. Smoothie's on-trend, authentic product portfolio enjoys strong brand equity, serving customers in the coffee house, health club and restaurant segments, among others.

The company's line of premium smoothies and beverage powders complements Bevolution Group's already robust selection of shelf-stable and frozen cocktail mixes, juice products, teas, lemonades, sports and energy drinks, slushies, enhanced waters, and thickened water.

The Dr. Smoothie product portfolio includes:

Classic premium, clean label smoothies sweetened with non-GMO cane sugar. They are available in numerous on-trend flavors and contain no artificial flavors or preservatives.

100% Crushed smoothies feature five servings of fruit in a 20 oz serving. This line-up of 21 flavors offers numerous fruit-veggie smoothies for the health conscious customer.

FIT-LYTE low-calorie, low-sugar smoothies appeal to anyone seeking calorie or sugar reduction.

Organic smoothies and frappes offer a premium organic option for the most discerning consumer.

Café Essentials range from blended to hot with frappes, hot cocoas, chai teas, and more. This line also delivers on the clean label promise of no artificial flavors or sweeteners.

Smoothie-Ceuticals variety of nutritional supplements rounds out the robust portfolio of Dr. Smoothie's health products.

Bevolution Group CEO Sam Lteif said: "We are excited about adding Dr. Smoothie Brands to our portfolio.

"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 on the forefront of health trends in the food industry, and we will continue this strategy with clean-label ingredient integrity and authenticity of flavors. 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."

Dr. Smoothie Brands founder Bill Haugh, who will remain actively involved with the business, said: "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 organization 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 and Highlander partner Alex Guiva said: "We have created a unique beverage platform that is recognized as a leader in the foodservice industry. Dr. Smoothie complements our product portfolio exceptionally well, and this transaction will provide significant benefits to both organizations.

"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."

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. Cody Peak Advisors, LLC served as the advisor to Dr. Smoothie Brands.



Source: Company Press Release