Coca-Cola Amatil has sold its dairy-free soft serve brand Lumi to Froyo Robotics, with the two companies entering an exclusive licence arrangement for the manufacturing and distribution of the product range.
The acquisition and licensing arrangement is between Amatil’s subsidiary Perfect Fruit Company and the Froyo Robotics owned entity Lumi Impossibly Good Pty Ltd. The deal includes the Lumi brand and all self-serve machines in its already established channels, such as restaurants, convenience and theme parks.
“Froyo Robotics owns the highly successful Reis and Irvy's robotic soft serve business in Australia. So, when the opportunity came up to acquire the LUMI brand and enter into the exclusive license arrangement, it was a natural progression for us,” said Froyo Robotics managing director Troy Bingham.
“The Lumi product has excellent consumer feedback and Coca-Cola Amatil has done a very professional job getting the business to the level it can now be rolled out internationally”.
“To be able to control the entire supply chain from manufacture to consumer makes sense, it is the way business is moving. The combination of LUMI’s proprietary product, with Froyo Robotics unattended retail solutions, will be unique in the marketplace”.
The sale follows Amatil’s divestment of food processing business SPC in June, as it aims to reinforce the company’s regional beverages powerhouse strategy by “simplifying its manufacturing model and strengthening customer focus”.
Lumi is a dairy-free, low fat soft serve and is made from fruits sourced from Goulburn Valley. Its current flavours include strawberry, mango and mixed berry.
Froyo Robotics plans to take the Lumi product into schools, airports and shopping centres, as well expand its presence in current sectors, and grow the brand internationally.
