In an investor call held this morning, DPS president and CEO Larry Young said that the company is “excited to see this team continue the breakthrough and disruptive innovation providing consumers with great-tasting and low-calorie beverages” and hailed the acquisition of Bai as one that “makes a tremendous amount of sense for us.”
Dr Pepper Snapple Group (DPSG) reported Q3 revenues of $1.68 billion in its quarterly financial results summary released Thursday morning, topping analysts’ projections with a 3.1 percent increase from the same period last year.
Speaking with BevNET at the NACS 2016 show in Atlanta, Alana Radmin, vice president of communications for Bai, said the partnership came together after Timberlake met founder Ben Weiss through another investor in the company.
Earlier this month, PepsiCo introduced a new packaged format for its Stubborn line of craft sodas. Scott Finlow, vice president of innovation and insights for global foodservice at PepsiCo said that the company views craft beverages as an important part of the company’s future, telling Fortune that “Craft is not a fad. It is here to stay.”
A longtime veteran of the food and beverage industry, Sarah Bird takes the reins from Bhakti founder Brook Eddy, who now serves as chairwoman of the company’s board of directors. Eddy remains “involved in the vision, innovation and culture” of Bhakti, according to the company.
Pengue joins Bai's executive leadership team with over 30 years' experience in sales, marketing, innovation and strategic business development, most recently as President of Nestlé Waters Business Units.
The list, which ranks companies based on revenue growth over the past three years (and at least $2 million in 2014 revenue) included just a handful of non-alcoholic beverage brands, but most of those that did make the cut are featured in the top fifth of all included companies.
Infused with distinctive antioxidant power and enhanced with electrolytes for a crisp, clean taste, this super-purified water represents the next generation of water hydration — what the brand affectionately calls H2.0.
U.S. District Judge Haywood Gilliam in the Northern District of California declined to dismiss the case in its entirety, agreeing with plaintiffs that a “reasonable consumer” could be misled into thinking that phrases like “Antioxidant Packed” means that the beverages provide a “good source” of antioxidants.
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.