Huron Capital’s Ronnoco Acquires Trident Beverage
ExecFactor® platform Ronnoco continues to expand products and service areas with ninth add-on
Detroit, MI – February 10, 2020 – Lower-middle-market private equity firm Huron Capital today announced that its platform company Ronnoco Beverage Solutions (“Ronnoco”), a manufacturer and distributor of premium quality coffee, tea and related products, has acquired Trident Beverage (“Trident”), 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 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, CEO of Ronnoco Beverage Solutions. “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. 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.
“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.”
About Huron Capital
Based in Detroit, Huron Capital is an operationally focused private equity firm with a long history of growing lower middle-market companies through our proprietary ExecFactor® buy-and-build investment model. We prefer complex situations where we can help companies reach their full potential by combining our operational approach, substantial capital base, and transaction experience with seasoned operating executives. Celebrating its twentieth anniversary in 2019, Huron Capital has raised over $1.8 billion in capital through six committed private equity funds and invested in over 190 companies, and our portfolio companies have employed over 11,000 people throughout North America. The Huron Capital buy-and-build investment model includes equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron Capital targets both control and non-control equity stakes in fundamentally-sound companies that can benefit from the firm’s operational approach to creating value. Huron Capital’s sector focus includes business services, consumer products & services and specialty industrials. For more information, please visit: www.huroncapital.com
About Ronnoco Beverage Solutions
Ronnoco roasts, blends, grinds, packages and distributes premium-quality coffee and teas under six primary brands: Ronnoco, Seattle Roast, Wild Horse Creek, Henderson, Coffee House and Camellia. The company provides a variety of other beverages, such as cappuccino, hot chocolate, and smoothies, and coffee-related products and equipment, including cups, flavoring syrups and condiments. Ronnoco supplies its products directly to its customers, as well as through a network of third-party distributors throughout more than 43 states. For more information, please visit: www.ronnoco.com.
About Trident Beverage
Trident Beverage was created in 2004 with the goal of providing a healthy selection of beverage and dispenser options to wellness oriented foodservice establishments. Successfully servicing thousands of schools, day cares, restaurants, bars and other food venues throughout the United States, Trident prides themselves on their high-quality beverage offerings and customer service. For more information, please visit: www.buybsg.com.
Certain information herein may contain forward-looking statements which are provided to assist the reader in understanding the beliefs and opinions with respect to future opportunities as perceived by Huron Capital and others quoted herein. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance in future periods to differ materially from any projections or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The issuer of these statements undertakes no obligation to update forward-looking statements if circumstances or estimates or opinions should change except as may be required by applicable securities laws.