Highlander Partners Acquires Lemon-X
Deal includes strategic combination with Juice Tyme, Inc.
Highlander Partners, L.P. announced the acquisition of Lemon-X Corporation and its strategic combination with Juice Tyme, Inc. ("Juice Tyme"), an existing Highlander Partners portfolio company. Lemon-X is a manufacturer and supplier of 100% juices, juice blends, lemonades, teas, and cocktail mixes in various pack sizes including bag-in-box, bottles, jugs, and cartons to the foodservice industry. Lemon-X's production facilities are located in Huntington Station, New York, which also serves as the corporate headquarters, and in Frostproof, Florida.
Lemon-X will continue its business activities from both the Long Island and Florida facilities in the same manner it did before, focusing on high standards of quality and service that are the hallmark of the organization. Founded over 40 years ago, Lemon-X has established a nationwide footprint and maintains strong relationships with broadliners, GPOs, nursing home chains, restaurants, hotels, schools, hospitals, casinos and other groups of customers.
The combination of Lemon-X and Juice Tyme will significantly increase the Company's scale, geographic coverage, and product offerings. Alex Guiva, Chairman of Juice Tyme and Partner of Highlander, stated, "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 and its combination with Juice Tyme reflects Highlander's ongoing "buy and build" strategy. Mr. Guiva added, "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."