US: Patriarch Partners buys into AriZona Iced Tea
Private equity firm Patriarch Partners has announced that one of its affiliates has purchased a significant stake in Beverage Marketing USA (BMU), best-known for its market leading brand, AriZona Iced Tea.
Patriarch said on Friday (8 August) that its global platform will aid BMU to more rapidly implement its vision of a global business that will establish a leading industry position in the global beverage markets.
AriZona Iced Tea has enjoyed success on the back of growth for the non-carbonated soft drinks category in the US, taking advantage of health and wellbeing trends among consumers.
BMU founder John Ferolito said: "My partner Don Vultaggio and I started this company from an idea and vision, and from that initial dream have grown it to become the successful enterprise it is today. Patriarch can help us accelerate our global business and to transform today's company into the grand global business I know we can be."
Rabobank International acted as exclusive financial advisor to Ferolito.
Sectors: Soft drinks
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