Bai CEO Ben Weiss today revealed that Dr Pepper Snapple Group’s (DPS) $15 million acquisition of a minority stake in his company was based on a half-billion dollar valuation. The deal gives DPS a 3 percent ownership position in Bai, which also recently secured a $25 million line of credit from global investment banking firm J.P. Morgan Chase.
Eighteen months after signing a national distribution deal with Dr Pepper Snapple Group (DPS), Bai Brands, which has grown at a torrid pace in the timeframe, has sold an equity stake to the beverage titan.
Edward Balassanian, the founder and CEO of Vital Juice, told BevNET that the decision to shut down was the result of several factors, one of the most significant being the remarkable pace at which the cold-pressed juice category is evolving.
Having secured a major round of financing, launched three new product lines and expanded distribution to 1,000 stores, Daily Greens is continuing its fast pace in 2015, recently bolstering its leadership team with the appointment of Steven Gollob.
The 2015 Share a Coke campaign will feature four times the number of names as the 2014 edition and also encompass different package sizes, with 1.25 L and 2 L bottles, and 12 oz. cans now in the mix.
PepsiCo has signed on to become the official food and beverage partner of the NBA while Coca-Cola has announced a multi-year deal with the MLS.
Here's the latest in distribution news across the beverage industry.
LAB is seeking investments ranging from $3 million to $10 million in early stage beverage businesses, and will not be exclusive to the alcoholic segment.
The food and beverage industry was recently reminded that specific criteria needs to be met when using the word “healthy” on product labels. That reminder came in the form of an FDA warning letter sent to Kind LLC, the maker of Kind snack bars.
Kathrine Larsen, winner of the United Kingdom’s 2014 Sommelier of the Year award, is taking her tasting talents to soda.
In a press release addressed to company shareholders, BeBevCo stated that it has already submitted a response to the FDA and been granted the necessary time to perform the adjustments to ensure KOMA Unwind is in compliance.
Talking Rain Beverage Co. today announced the launch of a new 8 oz. slim can for its Sparkling Ice line of zero-calorie carbonated drinks. The new package is designed to broaden the “distribution opportunities for the brand within the convenience and foodservice industries,” according to a company release.
In a complaint dated March 4, the FDA stated that KOMA Unwind “is adulterated under Section 402 of the Federal Food, Drug, and Cosmetic Act, because it bears or contains an unsafe food additive.”
In a warning letter dated March 25, 2015, the FDA wrote that the company has failed to include in its plan “control measures that will consistently produce, at a minimum, a 5-log reduction of pertinent microorganisms, for a period as long as the shelf life of the product when stored under normal and moderate abuse conditions.”