Swander Pace Capital has sold T-Bev, a maker of tea extracts, instant tea, natural and organic caffeine and other botanical extracts. The buyer is Florida Food Products. No financial terms were disclosed.
San Francisco, CA and Bedminster, NJ (May 2, 2022) – Swander Pace Capital (“SPC”), a leading private equity firm specializing in consumer product companies, announced the sale of T-Bev, Inc. (“T-Bev”), a manufacturer and distributor of tea extracts, instant tea, natural and organic caffeine and other botanical extracts catering to the functional beverage and dietary supplement markets, to Florida Food Products (“FFP”).
Since being acquired by SPC in June 2021, T-Bev has benefited from significant investments in innovation, sales, and operational infrastructure. As the demand for natural, organic and clean-label ingredients continues to grow, T-Bev has emerged as a leading player in the functional ingredients category.
“We’ve been able to build on the T-Bev legacy with the successful launch of several exciting new growth opportunities over the last year,” said Daniel Muth, Executive Chairman of T-Bev. “Additionally, our ability to partner with and leverage the Swander Pace portfolio was integral for the success of the T-Bev investment.”
“It has been a real privilege to partner with Dan Muth, Anson Gu, and this incredible company as we expanded its presence across new and existing customers to help accelerate growth,” said Mo Stout, Managing Director at Swander Pace Capital. “We’re excited to watch the company thrive as it enters this new chapter with Florida Food Products.”
T-Bev represents Swander Pace Capital’s third completed food ingredient investment. Prior investments in the food ingredient category include International Fiber Corporation and Fleischmann’s Vinegar. Going forward, SPC will continue to seek opportunities in the functional ingredients category to leverage its experience and expertise.
T-Bev is a manufacturer and distributor of natural and organic caffeine and functional botanical extracts. The Company creates high quality formulations for the food and beverage and dietary supplements industries, supplying tea, natural and organic caffeine and other value-added ingredients to businesses looking to utilize clean-label ingredients. For more information, visit www.t-bev.com.