Sorry for not releasing this earlier. Following publication of a story that indicated the company was on the verge of shutting down, Mix1 sent word late Thursday that, yes, the company isn’t coming back.
The nutritional and performance shake company, which was 69 percent Hershey Co.-owned, “has decided to immediately cease operations and dissolve,” noted a brief press release sent to BevNET. The reasons? A competitive category requiring further investment to make the company work.
In a separate communication, a Hershey Co. spokesman said the company isn’t totally abandoning beverage, although there’s apparently nothing on the horizon.
“The Hershey Company continues to participate in the beverage segment with successful licensed Hershey’s products in the United States and several strong beverage brands in our international business,” wrote Hershey spokesman Jeff Beckman. “We are committed to developing relevant new consumer products and will continue to look at adjacencies, including beverages, that fit into a balanced lifestyle as we bring innovative and compelling products to market.”
All orders on file as of Dec. 31 will be filled, Mix1 company said.
Release is below:
TRI-US (d.b.a MIX1) TO CEASE OPERATIONS
BOULDER, Colo., January 3, 2013 —The board of Tri-US, the maker of nutritional and performance shakes for high-performance athletes under the mix1 brand, announced today that it has decided to immediately cease operations and dissolve the company.
Given the highly competitive nature of the nutritional and performance shakes category, the Tri-US board determined that the investments necessary to make mix1 a viable, ongoing business would not generate a sufficient return. As a result, they have unanimously elected to cease operations.
The company will fill all existing orders on file as of December 31. All other operations have been discontinued.