DALLAS — Highlander Partners, L.P., a Dallas-based private investment firm, has acquired Lemon-X Corp., a maker of juice beverages with production facilities at the company’s headquarters in Huntington Station, N.Y., and Frostproof, Fla. Financial terms of the transaction were not disclosed.
Highlander Partners will combine Lemon-X with its portfolio company Juice Tyme, Inc., to increase its scale, geographic reach and product offerings in the beverage industry.
Founded 40 years ago, Lemon-X manufactures and supplies 100% juices, juice blends, lemonades, teas and cocktail mixes for restaurants, hotels, schools, hospitals, casinos and other food service customers nationwide. The company will continue its business activities in the same manner as before, Highlander Partners 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,” said Alex Guiva, chairman of Juice Tyme and partner of Highlander Partners. “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.”
Acquired by Highlander Partners in 2013, Chicago-based Juice Tyme manufactures and sells shelf-stable juice and beverage concentrates to restaurants and bars, schools, businesses, health care, convenience stores and more.
The acquisition of Lemon-X and combination with Juice Tyme reflects the firm’s “buy and build” investment approach. Highlander Partners has more than $1 billion of assets under management with investments in food, basic manufacturing, consumer products and more.“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,” Mr. Guiva said.