ADDISON, Texas, May 22, 2008
/PRNewswire-FirstCall via COMTEX News Network/ — Boo Koo Holdings, Inc. (OTC
Bulletin Board: BOKO; Boo Koo) announced today that it has appointed three
leading beverage industry executives to its Board of Directors. The Company
appointed Gil Cassagne, formerly Chief Executive Officer of Cadbury Schwepps
Americas Beverages, Jack Belsito, formerly President of Snapple Distributors,
Inc. and Joe Bayern, formerly Chief Strategy Officer of Cadbury Schwepps
Americas Beverages, to its Board of Directors. The executives will also assume
the role of consultants for the Company, advising it on business opportunities.
The Company also announced today that,
subject to shareholder approval, it plans to change its name to Performing
Brands, Inc., reflecting its objective to transition from an energy beverage
maker to a broader-based consumer beverage company focused on health, wellness
and functional benefit beverages.
“We are excited to attract such
experienced and accomplished beverage executives to Boo Koo as we refocus and
rebrand the Company,” said Steven B. Solomon, the Company’s Chairman.
“Each has played an instrumental role in building highly successful and
admired beverage companies. We look forward to utilizing their expertise as we
grow the Company.”
Mr. Cassagne has more than 30 years of
experience in the consumer products industry and over 20 years in the beverage
industry with companies such as Procter & Gamble, The Dr Pepper Company and
Cadbury Schwepps Americas Beverages. He most recently held the position of
Chief Executive Officer of Cadbury Schweppes Americas Beverages, a $5 Billion
plus division of Cadbury Schwepps where he also served as part of the executive
board of the multinational consumer products company. Mr. Cassagne has held
numerous other positions within Cadbury including the Regional President of
Asia Pacific and the President of Motts.
“My colleagues and I believe that the
experience we have had in developing other successful beverage brands will play
a key role in the Company’s emergence as a leading beverage company,” said
Mr. Cassagne. “The market opportunity is substantial and we will focus on
acquiring and developing promising brands that should allow the Company to
successfully participate in this rapidly growing industry.”
Mr. Belsito has more than 25 years of
experience in the consumer products industry and over 20 years in beverages
with companies such as Procter & Gamble, Pepsi, Snapple and Cadbury
Schwepps Americas Beverages. He most recently held the position of President,
Snapple Distributors, Inc., for Cadbury Schwepps Americas Beverages where he
also served as part of the executive board. Prior to his current position, Mr.
Belsito held positions of Chief Executive Officer of the Snapple Beverage Group
and the President of RC Cola. Mr. Belsito has extensive experience in the
beverage industry holding senior positions in Franchising, Marketing, Sales,
Business Development and M&A. He has led the acquisitions of both branded
companies and bottling and distribution companies.
Mr. Bayern has more than 10 years of
experience in the consumer products industry and over 10 years in the
consulting industry. He most recently held the position of Chief Strategy
Officer of Cadbury Schwepps Americas Beverages where he also served as part of
the executive board. Prior to his current position, Mr. Bayern served as the
Director of Global Strategy of Cadbury Schwepps in London. Prior to joining
Cadbury, he worked at Snapple Beverage Group where he held a variety of
positions including Senior Vice President of Operations, Chief Information
Officer and Chief Strategy Officer.
About Boo Koo
Boo Koo currently develops, produces, markets
and distributes alternative beverage category energy drinks under the Boo
Koo(R) and Gazzu(TM) brand names. Boo Koo currently sells and distributes its
products in parts of the United States and Canada through its network of
regional bottlers and other direct store delivery distributors, including
independent Coca-Cola, Cadbury Schweppes and other wholesale distributors.
Gazzu(TM) is sold exclusively to Circle K. Boo Koo’s products are sold
primarily to mainstream convenience and grocery store chains, drug stores, gas
stations and other retail outlets. The Company’s objective is to transition
from an energy beverage maker to a broader-based consumer beverage company
focused on health, wellness and functional benefit beverages.