Dr Pepper Snapple, Pepsi buy alternative drinks makers
Beverage firms are diversifying into products perceived as healthier as soda sales fall
New York
DR Pepper Snapple Group Inc and PepsiCo on Tuesday both announced plans to buy alternative drinks makers, the latest examples of beverage companies branching into products perceived as healthier as soda sales decline.
Dr Pepper Snapple, which makes flavoured tea, juice drinks, 7UP and Schweppes sodas, will buy antioxidant beverages maker Bai Brands LLC for US$1.7 billion in cash, the companies said in a joint statement. Dr Pepper Snapple, which is based in Plano, Texas, already has a roughly 3 per cent stake in Bai and a distribution deal with the Hamilton, New Jersey-based company.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Sheng Siong Q1 net profit up 9.3% on higher revenue
Nestle sales growth sputters on US slump, vitamin snags
Hermes Q1 sales jump 17% on strong China demand
Cordlife’s independent auditor to retire after issuing disclaimer of opinion on FY2023 financials
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Cordlife customers push for legal action