Coca-Cola offers $1 million for new artificial sweetener innovations; Soda tax thwacks Chicago's suburbs; Will Smith plugs JUST Water on James Corden's "Carpool Karaoke"; NPR takes a look at the rise of seltzer; Bai seeks a more mature brand image.
DPSG spent $40 million in expenses for Bai during the spring, the company reported, half of which went toward marketing. An additional $49 million spent toward repaying debt contributed to the company’s 28 percent earnings drop.
Three former employees have sued the company and its recently departed founder and CEO, Ben Weiss, for allegedly cheating them out of the fair market value of their ownership stakes in the company ahead of its $1.7 billion sale to Dr Pepper Snapple (DPS) last November.
Parent company Dr Pepper Snapple Group (DPS) did not cite a reason or provide any further details regarding Ben Weiss’s departure from the brand he founded in 2009, but included a brief statement from the former CEO in a press release.
BevNET has learned that Bai Brands founder and CEO Ben Weiss has left the company. Although sources close to the company confirmed to BevNET that Weiss has departed, it’s unclear at this time whether he was dismissed by Dr Pepper Snapple Group (DPSG), which acquired Bai in February, or if he resigned.
Bai CMO Michael Simon discusses the company's decision to move creative in-house; Twitter bans a fake RC Cola parody account after its political tweet goes viral; Nutrition Policy Institute members call for energy drink caffeine caps; Nostalgia helps drive a Clearly Canadian revival; USA Today reports on the rise of craft soda
Investors have sought more details about DPSG's revised growth plan for Bai and on whether its management team can deliver on high expectations. On Tuesday, a report from Wells Fargo Securities offered a clearer analysis of the acquisition, the guidance revision, and the future of Bai, presenting optimism along with some explanations
Bai, which DPSG acquired for $1.7 billion in November, saw 80 percent volume growth over the quarter. While the company is optimistic for Bai’s flagship brand to grow, current predictions point to Bai Bubbles, Supertea, and Black having the greatest potential, particularly as the sparkling water category sees double-digit growth, according to DPSG CEO Larry Young.
A cursory search of U.S. trademark registration records indicates that both companies may indeed have reasonable arguments to present with regard to their ownership of the term.
DPS expects Bai to double its sales in 2017, projecting about $425 million in net sales this year, as well as adding an incremental $132 million to its existing overall net sales expectation.
Reuters Friday reported that coconut water leader Vita Coco is exploring a sale of the company, citing “multiple sources.” Vita Coco has hired investment bank JP Morgan to advise for an upcoming sale that could value the company at up to $1 billion.
Blue Diamond reported to be settling class action lawsuit for about $9 million, Justin Timberlake is set to star in Bai's upcoming Super Bowl commercial, and the FDA cracks down on alleged camel milk "miracle cure."
CVS is now stocking many better-for-you beverage brands in 450 of its stores as the next stage in its health-conscious rebranding that initially began in 2014.
Executives from Monster Beverage Corporation discussed a variety of topics on Thursday during the company’s annual investor call, including the performance of its new Mutant “super soda” drink and the status of its forthcoming coffee innovation, Cafe Monster.