Tekweld (asi/90807) announced that last week it acquired MOJO Colors (asi/71965). Terms of the deal were not revealed.
Mojo, based in Canoga Park, California, sells light-up bottled water with an LED light that adheres to the bottom of the bottle and a label that activates the light. Gregg Szpicek, VP of sales for Tekweld, says company President Taylor Tadmor was looking at the acquisition of Mojo for at least a year. The product is expected to be available through Tekweld by the beginning of 2016, and Szpicek thinks it will be a natural fit with the supplier’s other offerings and decoration capabilities.
“We’ve been selling bottled water for quite some time,” Szpicek says. “At events, and we’re an event-driven industry, everyone will have a great opportunity for an upsell where people drink bottled water. Now people will hold on to that bottle a little bit longer.”