US: Tropical Beverages eyes acquisitions
The Californian drinks producer Tropical Beverage Inc. said yesterday that it had signed an agreement Skytop Investments to help raise capital and advise on facility expansion and acquisitions.
"We feel extremely blessed to have found Skytop," said Chris Lotito, CFO for Tropical. "We have contracts on the table right now that could max out our production and we need to ready ourselves for the future. We feel that this relationship with Skytop will allow us to focus on the things that we do best and move ahead much faster than we ever could have hoped on our own. It frees us to make the deals and concentrate on what we do best, create and manufacture the next generation of beverages," he added.
"They have extensive expertise with companies in our position and have put together some major multi-m dollar buyouts in the past. They've already put a credit line in excess of US$3m on the table for us to use to support orders we are about to receive," he added.
"We specialize in the funding for high growth companies like Tropical," said John P. Regas, managing member for Skytop Investments LLC, out of Newport Beach, CA. "And we are looking forward to the exciting future at Tropical Beverage and the many markets that it is poised to move into, and are ready to provide funds and management to expand on these immediate opportunities," he added.
Sectors: Soft drinks
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