Ocean Spray signs licensing deal with Lyons Magnus
Ocean Spray, an agricultural cooperative based in Lakeville and Middleborough, said Wednesday that it has signed a licensing agreement with Lyons Magnus, a California company that develops and markets fruit, beverage, and chocolate products to food-service customers.
Under the agreement, Ocean Spray said it will provide Lyons Magnus with cranberry juice concentrate and use of the Ocean Spray brand. Lyons Magnus, in turn, will manufacture Ocean Spray branded juices, including cranberry, orange, apple, and lemonade, for use in their dispensed beverage machines and market them through its food-service infrastructure.
The press release issued by Ocean Spray and Lyons Magnus did not include financial details of the licensing agreement. As a result of the agreement, the Ocean Spray brand should get broader exposure the restaurants, hotels, schools, convenience stores, and health care facilities that rely on the food-services industry.
Ocean Spray posted fiscal 2012 gross sales of $2.2 billion.Chris Reidy can be reached at firstname.lastname@example.org.