DETROIT, MI, U.S. — Lower-middle-market private equity firm Huron Capital today announced that its platform company Ronnoco Coffee (“Ronnoco”), a manufacturer and distributor of premium quality coffee, tea and related products, has acquired Beverage Solutions Group (“Beverage Solutions” or the “Company”), a provider of high-quality beverages and convenience store and foodservice industry equipment.
This is the eighth acquisition for Ronnoco in six years. Huron Capital acquired Ronnoco in 2012 as the platform investment for its ExecFactor ® initiative within high-growth beverage categories.
“We are excited about working with the great team at Beverage Solutions to focus together on expanding the combined portfolio of products, brands and equipment,” said Ronnoco Chief Executive Officer Terry McDaniel. “Beverage Solutions has built a strong reputation in the beverage industry and is a great fit for Ronnoco’s continued brand momentum.”
Beverage Solutions was founded in 1997 by Doug and Steve Thompson in Maynardville, Tennessee, and has become known for providing reliable, environmentally friendly, equipment and products ever since. The Company sells creamers, sweeteners, cappuccino and hot chocolate, in addition to foodservice equipment.
“We anticipate Ronnoco’s industry expertise will help us grow our current beverage equipment and brand offerings,” Beverage Solutions’ Co-Owner and President Steve Thompson said. “Doug and I feel this partnership will provide significant benefits for our employees and our customers.”
Working with over 70 distributors throughout the country, and with over 90 shipping locations, Beverage Solutions deepens Ronnoco’s presence throughout the U.S. in convenience stores, food service locations and offices.
“For over 20 years, Beverage Solutions has provided high-quality products and equipment along with excellent customer service,” said Matt Hare, Partner at Huron Capital. “The addition of Beverage Solutions expands Ronnoco’s national footprint from 35 to 43 states and provides additional distributor relationships.”