US-based Entrepreneurial Equity Partners (E2P) has acquired Truss Beverage Co. from Tilray Brands.
Financial details of the transaction, made through E2P’s subsidiary Ya Ya Foods, were not disclosed.
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The main asset acquired in the deal is Truss Beverage’s production facility in Belleville, Ontario. The 186,000 square-foot facility was constructed in 2020 and has an annual production capacity of 250,000 hectolitres.
Canadian-based Ya Ya Foods is a North American co-packer of aseptic beverages and foods. Its handles products such as high-protein beverages, plant-based drinks, dairy products, fruit juices and sports drinks. It was acquired by E2P in 2021.
Commenting on the purchase, Ya Ya Foods founder and CEO Yahya Abbas said: “We are thrilled to add the Truss facility to the Ya Ya Foods portfolio. The state-of-the-art facility will enable us to offer new capabilities, such as canning and glass, in addition to our existing aseptic PET, carton, and gable top chilled capabilities, and additional capacity to new and existing customers throughout North America”.
The acquisition of Truss Beverage increases the number of Ya Ya Foods’ North American production sites to three.
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By GlobalDataBased in Chicago, E2P is a private equity firm that invests in food and consumer packaged goods companies. Its portfolio also includes World Food Holdings, Salm Partners, MBC Companies and Gardian Holdings.
Truss Beverage was originally started as a cannabis drinks joint venture between Tilray Brands and the Molson Coors Beverage Co.
Last year, Tilray Brands struck a deal to buy outright Truss Beverage from Molson Coors and bought out the group’s 57.5% stake in the venture.
Tilray Brands added four production sites to its US roster this week via the acquisition of four craft breweries from Molson Coors.
That agreement sees Tilray Brands add Hop Valley Brewing Co., Terrapin Beer Co., Revolver Brewing, and Atwater Brewery to its portfolio.
