Manna Beverages & Ventures (MB&V) is set to acquire California-based co-packer Nor-Cal Beverage Company for an undisclosed sum, the company announced Wednesday. The deal is subject to due diligence and approvals.
Based in Kentucky, MB&V is an affiliate of Manna Capital Partners, an investment firm founded by former NBA star and businessman Ulysses L. “Junior” Bridgeman and investor Kevin Attkisson. Bridgeman is also the founder of bottler Heartland Coca-Cola, which services Kansas, Missouri, and Southern Illinois, and the owner of more than 200 franchise restaurant outposts, including Wendy’s and Fazzoli’s.
MB&V has aimed to build a portfolio of beverage manufacturing facilities for both alcoholic and non-alcoholic products, and last year announced plans to build a new $600 million, 1.7 million square-foot beverage production plant in Montgomery, Alabama. That plant, which is expected to create around 280 jobs, is scheduled to go online in 2025.
Founded 86 years ago, Nor-Cal Beverage is one of the largest independent beverage co-packers in the Western United States, operating two locations in California and specializing in teas, chilled juices, water, energy drinks and ades with capabilities to produce cans, PET and glass bottles. The business also offers warehousing and logistics as well as specialized equipment services.
“We are excited to add the Nor-Cal Beverage Company business to the Manna Beverages & Ventures portfolio,” said Derrick Register, MB&V President, in a statement. “By continuing to serve as the solution for major brands, we will capitalize on what Nor-Cal Beverage Company built while opening doors for expanded opportunity.”
According to MB&V, the acquisition is expected to allow Nor-Cal Beverage Company to expand its capabilities. A press release did not specify what new additions might be made, however.
“We are pleased to soon see the positive impact that this impending transaction will have on our employees and customers,” said Shannon Deary-Bell, Nor-Cal Beverage Company President and CEO, in the release. “We will continue providing our brands with the best products while expanding opportunity, capability, and resources for our employees and customers. With new opportunity on the horizon, I am proud to see how this acquisition will change the trajectory of this business.”