Swander Pace Capital (SPC), a private equity firm specialising in consumer product companies, has sold 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.
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.
