Shore Capital Partners and iTi Tropicals, Inc. Announce Partnership

CHICAGO, September 28, 2022--(BUSINESS WIRE)--Shore Capital Partners ("Shore" or "Shore Capital") is pleased to announce it has completed a partnership with iTi Tropicals, Inc. ("iTi"). Founded in 1988, iTi has experienced tremendous growth under the leadership of President Gert van Manen and his world-class team. "We couldn’t be more excited for our customers, suppliers, and employees as we enter this partnership with Shore Capital. We believe the product suite, innovation expertise, and depth of resources Shore Capital has brought together with iTi and BevSource will allow us to bring even more value to our partners in the market," said van Manen.

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The next step is for iTi to join a new Shore Capital Innovation platform and form a strategic partnership with BevSource, an existing Shore portfolio company. BevSource, founded in 2002 by CEO Janet Johanson, offers a full range of operational and support services to beverage entrepreneurs and brand owners of all sizes. iTi has an extensive portfolio of plant-based products, and is a leading supplier of tropical fruit juices, purees, and concentrates. The partnership brings together BevSource’s leading production management expertise, ingredient and packaging sourcing, and formulation services with iTi’s expertise in unique juices and related applications to provide a more comprehensive suite of solutions for a blue-chip customer base.

"Both BevSource and iTi will benefit a great deal from this partnership as we expand our suite of services and broaden our product offering. This is a significant step in our vision to build a one-stop shop for ingredients sourcing, packaging sourcing, and value-added supply chain solutions to entrepreneurs and established operators in the food and beverage industry," said Johanson.

Richard Boos, Chairman of BevSource and Partner at Shore, commented, "Shore is thrilled to welcome iTi as a cornerstone of our food and beverage supply chain solutions platform. iTi is an immensely strategic addition to the platform, adding significant new capabilities, expertise, and deep customer and supplier relationships in the beverage industry while also expanding the platform’s reach into food end-markets. We look forward to partnering with management to continue growing these two best-in-class businesses into a leading provider of ingredients, packaging, and value-added supply chain solutions to the food and beverage industry."

About BevSource

Headquartered in St. Paul, MN, BevSource is an integrated provider of beverage development, sourcing, and production solutions to new and established beverage leaders. BevSource assists both small and large customers with a full suite of operational and support services across beverage categories, including beer, wine, spirits, energy drinks, juices, tea, functional waters, carbonated soft drinks, and seltzers. Shore Capital Partners partnered with BevSource in November 2021. For more information, please visit www.BevSource.com.

About iTi Tropicals

Founded in 1988 and headquartered in Lawrenceville, NJ, iTi imports, markets and distributes the highest quality plant-based products and tropical and exotic fruit juice purees and concentrates. iTi maintains an extensive network of suppliers from countries across the world including Ecuador, Peru, Brazil, India, Vietnam, the Philippines, Sri Lanka, and Indonesia. For more information, please visit www.ititropicals.com.

About Shore Capital Partners

Shore Capital is a Chicago-based private equity firm focused on microcap investments within the Healthcare, Food and Beverage, Business Services, and Real Estate industries. Shore focuses on supporting management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value for shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic growth and growth through industry consolidation. Shore has over $3 billion of equity capital under management through various investment vehicles. For more information, please visit www.shorecp.com.

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Contacts

Allison Dorr, Edelman Smithfield
Allison.Dorr@edelmansmithfield.com