Lower-middle-market private equity firm Huron Capital announced that its platform company Ronnoco Beverage Solutions, a manufacturer and distributor of premium quality coffee, tea and related products, has acquired Trident Beverage, a provider of high-quality beverages and dispensing products for a variety of foodservice establishments.
Ronnoco, an ExecFactor initiative, has increased its industry reach to 43 states with the addition of nine acquisitions since Huron Capital invested in the company eight years ago. Trident's line of fruit juices and frozen beverage equipment provide Ronnoco with an opportunity to gain a deeper market penetration in some categories and new opportunities in other areas, the company says.
"The acquisition of Trident Beverage adds both complementary and related product lines to Ronnoco's current beverage portfolio, making it a strong strategic fit," said Terry McDaniel, chief executive officer of Ronnoco Beverage Solutions, in a statement. "We are incredibly enthused to welcome John, Patrick and their dedicated team to company as we jointly work to advance our mission for continued growth and innovative expansion."
Houston-based Trident Beverage has a prominent presence in the K-12, convenience and foodservice markets, according to the company. Product offerings include Juice Alive and JavAlive as well as hot, cold and frozen dispensing equipment and services.
Trident President John Walker and Vice President Patrick Walker will continue to run the business, providing leadership and expertise to ensure continued quality of their beverages and service.
"We are pleased to unite fronts with a company that is so aligned with our larger priorities," Walker said. "Together, our extended line of complementary product offerings and service areas creates natural opportunities for expansion across the combined platform."
Huron Capital made a commitment when it acquired Ronnoco in 2012 to help the company grow and write the next chapter in a history that dates back to 1904, it says.
"We're proud of the talent and growth Ronnoco has been able to achieve over the last eight years," said Huron Capital Partner Matt Hare. "We believe the addition of Trident will help Ronnoco continue to increase market share and provide our partners with a one-stop, full line of beverage solutions."