Dr V, an Australian natural energy drink company, has acquired the Tonik brand from Halo Food Co for an undisclosed fee.
The acquisition will see Tonik and its range of RTDs and protein bars join the Dr V family, which Kimberley Holden, CEO of Dr V, says aligns with Dr V’s product range.
“It’s fresh, it’s contemporary, it’s in the wellness area, and it’s a brand that I’ve admired for a very long time and am now proud to own. And of course, it tastes great, and that’s the main reason we liked it so much.”
Holden said the acquisition will be mutually beneficial for the two brands as there is a crossover in customers and Dr V will be able to have exposure to new buyers and build on those strong relationships and partnerships.
“It’s a similar target customer; there are so many synergies for both of us. I think Tonik will benefit from a very small, happy, and collaborative team. Tonik has been on a really strong growth trajectory, and with Lisa Schilling-Thomson’s [National Sales Manager at Tonik] help, we’ll be able to up the ante.”
In the immediate future, Holden said the plan is to ensure that Tonik is integrated into the business seamlessly, with no changes to staff or branding, before looking at new markets and NPD.
“We’ll just digest this acquisition, make sure that our customer base is looked after, there are no out-of-stock items, and just continue that growth trajectory.”
The purchase is for Tonik’s IP, which includes its recipes and trademarks, as well as the brand’s current stock, which Holden says is all very fresh.
“When they make products, it sells straightaway, so we’ve got a very fresh batch of stock, which will help in making the transition quite seamless.”