According to federal regulatory documents, Hershey invested $6m in mix1 in January 2012. Hershey had previously invested $5.8m in February 2011.
At the time of the last transaction, the candy company said it would be involved in all mix1-related operations and marketing and it was thought the acquisition was to bolster Hershey’s own efforts at making a cocoa-based protein drink called reGen, which was discontinued within three months, with the website stating that efforts would be concentrated on mix1.
Privately held mix1 was co-founded by Greg Stroh, Wes Brasher and James Rouse in 2006. Stroh formerly worked at his family’s Stroh Brewing Co and also co-founded Izze Beverage Co.
Source: Boulder County Business Report
© FoodBev Media Ltd 2024