Chicago, IL. Nixon Peabody LLP represented Tropical Paradise DBA Cool Tropics, a leading brand of fruit- and vegetable-based beverages and slushes in the K–12 school market, and its founder, Frank Massabni, in the sale of the business to Peterson Brands, LLC, a leading provider of high-quality fruit and vegetable beverages.
Cool Tropics is known for delivering fruit-first, better-for-you options targeted to health-conscious consumers. With this acquisition, Peterson Brands will further develop the Cool Tropics brand to expand its innovative beverage portfolio and strengthen its presence in the school and foodservice markets.
“It was a pleasure to work with Frank and the entire Cool Tropics team on their sale to Peterson Brands,” said Nixon Peabody Corporate partner David R. Brown, who co-led the firm’s deal team. “This transaction represents an exciting opportunity to expand the reach of Cool Tropics’ products to new markets. We are excited to see how these two great teams will grow their business together.”
“This acquisition marks an exciting new chapter for Cool Tropics. In Peterson Brands, we have found the perfect partner to build on our 31-year legacy in our beloved K–12 community, expanding our brand and presence,” said Frank Massabni, CEO of Cool Tropics. “From the people, culture, and systems, Peterson Brands will take Cool Tropics to new heights leveraging their unique farm-to-table and farm-to-school capabilities.”
Brown co-led the Nixon Peabody team with partner Elizabeth Baio. The team also included partners Patrick Cox and Brian Alcala; associates Ryan Cosmopulos and Brian Kenney; and paralegal Robert Isaacson.
Read Peterson Brands’ press release to learn more about this transaction.
