Craft juice company Perricone Farms is squeezing out new opportunities for expansion this week, having acquired Fort Pierce, Fla.-based Natalie’s Orchid Island Juice Company. Terms of the deal were not disclosed.
The merger will allow Newport Beach, Calif.-based Perricone Farms to take advantage of bi-coastal production facilities, improve its delivery capabilities, expand its product offerings and leverage its additional scale to ensure the quality of both companies’ juices, the company announced in a press release.
“Natalie’s commitment to producing the highest quality products, combined with unmatched customer service, aligns with the core values we have been providing in the marketplace for years,” said Bob Rovzar, CEO of Perricone Farms, in the release. “Together, Perricone Farms and Natalie’s are now better equipped to ensure the continued success and growth of both brands.”
Founded in 1989, Natalie’s started out selling orange and grapefruit juices but now boasts a wide range of juice products, including holistic juices, citrus juices, exotic blends and lemonades. Earlier this year, CEO Marygrace Sexton told Modern Retail that Natalie’s is on track to bring in $140 million in revenue in 2024.
At $2.52 million, Natalie’s refrigerated lemonade sales were up 27.4% in the 52-week period ending July 14, according to Circana retail data covering total U.S. – MULO with c-store, including grocery, drug, mass market, convenience, military and select club and dollar retailers. Category leader Simply saw sales down 1.7% to $669 million. In orange juice, Natalie’s sales increased 4.6% to $31 million as compared to the overall category, which fell -4.4% during the same period.
“The impressive growth that has driven success behind the Natalie’s brand for the past 35 years has been built on the brand loyalty and relationships we have established with our customers and consumers. Natalie’s has been built to last and will be providing you with authentic juices on a worldwide scale for generations to come,” said Sexton in a statement.
Perricone Farms was founded in 1994 by Sam Perricone – one of the largest citrus growers in the U.S. at the time – along with his eldest son, Joe. The company offers a range of citrus and apple juices in both conventional and organic varieties produced at its manufacturing facilities in Beaumont, Calif., and Vero Beach, Fla.
As part of this week’s transaction with Natalie’s, Perricone Farms will now also operate the facility in Fort Pierce, Fla.