Brands Within Reach (BWR) has appointed Olaf Zachert, managing director of the company’s new owner, as its new CEO, succeeding Olivier Sonnois.
Zachert currently serves as managing director of Zachert Private Equity, which recently acquired the company from NewAge in a deal valued at $15 million. Following his appointment, Zachert will continue in his role as managing director of the private equity firm.
Meanwhile, Hermann Gottwald – previous CEO of Nestlé Waters in Germany and general manager of PepsiCo Germany/Austria – has been put in charge of BWR’s global licensors relations, effective immediately.
According to BWR, the appointments have been made as part of a restructuring process that will allow greater focus on its brands.
BWR owns key licensing and distribution rights in the US for beverages brands including Nestea, Volvic, Illy and Evian, while it also found sparkling beverages, Kusmi Tea, Saint-Géron and select organic snacks such as Nature Addicts, Grand-Mere and La Mere Poulard.
Zachert says it plans to invest tens of millions of dollars in BWR in the coming years in order to promote the company’s potential, while also enabling its own brands to enter the European market through new strategic acquisitions and partnerships. His appointment is part of an interim measure until the realignment has taken place.
He added: “We are assuming that after the realignment has taken place, by the beginning of 2021 at the latest, the position of CEO will be filled with an industry expert for the long term.
“As a specialised investment company, we can implement the restructuring processes quickly and efficiently. This is the cornerstone for a successful and trusting remodelling, and keeping the process constructive and positive for all involved.”
© FoodBev Media Ltd 2020
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