Peterson Brands Acquires Cool Tropics Beverage Brand
Fruit and vegetable beverage processor Peterson Brands LLC has acquired Tropical Paradise DBA Cool Tropics, a brand of fruit- and vegetable-based beverages known for its presence in the K-12 channel. Cool Tropics will gain enhanced production capabilities, expanded distribution and continued innovation opportunities under the Peterson Brands umbrella. Its beverages are touted as fruit-first, better-for-you options targeted to health-conscious consumers.
For Peterson Brands, the acquisition expands its portfolio and strengthens its presence in the school and foodservice markets. It expects to leverage its expertise in fruit processing and beverage innovation to further develop the Cool Tropics brand, focusing on what the announcement called farm-to-table and farm-to-school approach.
Frank Massabni, CEO of Cool Tropics, said the brand had “found the perfect partner to build on our 31-year legacy in our beloved K-12 community,” and that Peterson Brands would “take Cool Tropics to new heights.”
Peterson Brands is part of the Peterson Farms Family of Companies, headquartered in Shelby, Mich., with processing facilities throughout the U.S. It specializes in individual quick frozen (IQF) fruits, fresh apple processing, bulk and retail juice, applesauce, retail polybagging and controlled atmosphere storage. It operates the largest freezer storage facility in the Midwest, the company said.
