Tervis Tumbler, who has been a fixture in Venice for 75 years, has been sold to a newly formed investment group that plans to relocate the company’s headquarters to Bradenton, ending more than seven decades of family ownership.
JV2 Innovative Products LLC, a Delaware-based entity created June 4, completed the purchase less than a year after Tervis filed for Chapter 11 bankruptcy with more than $30 million in debt. Company officials did not disclose the purchase price and declined to name the investors, saying the group includes one local partner and several from outside Florida with backgrounds in manufacturing.
The new owners intend to retain the Tervis brand and will soon appoint a new president, chief revenue officer and sales leaders. Plans also include investment in product development, manufacturing upgrades and a larger sales team…