JV2 Innovative Products, now renamed Tervis LLC, purchased the Tervis company on Aug. 12 with a majority investment. Former CEO of Tervis Hosana Fieber, who joined the company in 2009, says this move will help Tervis’s legacy continue with renewed investment as she steps away from her position following the transaction. “Being able to come in and strategically put Tervis in a place where new investors wanted to come in and invest in the future of the company, I would say that’s my greatest accomplishment as CEO,” she says.
Rogan Donelly, a member of the original Tervis founding family, which established the beloved drinkware brand in 1946, will remain a minority owner in the company. However, Donelly and Fieber have also decided to purchase the Tervis store in Osprey—the last remaining Tervis retail store. “The retail location was not acquired with the transaction with JV2, so it was left behind. Rogan and I decided that we just couldn’t let this location die. It has 60-plus years of history,” says Fieber. “It’s a big part of the community, so we bought it and are going to continue to operate it. We really want to bring it back to life and make it a destination again.”
Moving forward, Tervis LLC will focus on selling its products wholesale, while the local retail store will operate separately and feature several items from the brand’s portfolio. With the store, Fieber hopes to keep the history of Tervis alive as the first insulated drinkware, which grew to be loved by many for the decorations sandwiched between its inner and outer layers. “We hope to make it a destination for people who are on vacation or are locals who come in and are looking to have an experience in the store,” says Fieber. She and Donelly plan to bring in a ‘make your own cup’ experience, where customers can visit the store and customize their cups with their own photos…