Highlander Partners Acquires Lemon-X, Combines with Juice Tyme

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Mar 23, 2015, 10:53 ET

DALLAS, March 23, 2015 /PRNewswire/ -- Highlander Partners, L.P., today 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."

About Highlander Partners, L.P.

Highlander Partners, L.P. is a Dallas-based private investment firm with over $1 billion of assets under management. The firm focuses on making investments in businesses in targeted industries in which the principals of the firm have significant operating and investing experience, including basic manufacturing, food, chemicals, building materials, consumer products, and others. Highlander Partners uses a "buy and build" investment approach, creating value by helping companies grow organically and through acquisitions. For more information, visit www.highlander-partners.com.

About Juice Tyme, Inc.

Juice Tyme, Inc. manufactures and sells juice and beverage concentrates for the foodservice industry in the United States. It offers juices, drinks, sugar-free beverages, thickened and enhanced waters, sports and energy drinks, iced teas, margaritas and cocktail mixers, frozen drinks and smoothie mixes, and flavor shots. The company serves restaurants and bars, colleges and universities, K-12 schools, business and industry, healthcare, military, recreation and lodging, and convenience stores markets. For more information about Juice Tyme, please visit www.juicetyme.com.

About Lemon-X Corporation

Lemon-X Corporation manufactures and sells a diverse variety of juices, teas, lemonades, and cocktail mixes in numerous concentrations and pack sizes. In addition to supplying beverages, the company also supplies Lemon-X owned dispensing equipment and has a nationwide network of technicians who provide service to the machines. The company's products are distributed nationwide to the restaurants, hospitality, healthcare, casino, and education segments through a network of beverage and foodservice distributors. For more information about Lemon-X, please visit www.lemon-x.com.

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SOURCE Highlander Partners, L.P.