Dr Pepper Snapple (DPS) has acquired a minority stake in antioxidant-infused beverage producer Bai Brands for a sum of $15m.
The move was announced by Bai’s CEO, Ben Weiss, although the size of the share acquired by the Texas-headquartered company has yet to emerge. It follows the signing of a distribution agreement between the two firms “in most major markets” at the end of 2013.
At the time, Bai Brands founder and CEO Ben Weiss said: “Every day we get phone calls and letters from consumers in cities where Bai is not yet on the shelf, asking for the product. Our relationship with Dr Pepper Snapple Group will allow us to rapidly roll-out Bai to new markets and into the hands of those consumers.”
And Bai Brands president Ken Kurtz added: “Over many years, DPS has expertly assembled what we feel is the most competitive route to market for beverages in this country. The great taste, all natural ingredients and use of the coffeefruit as a source of antioxidants are driving strong consumer demand for Bai, and so we are very pleased to work with DPS to complete our national distribution footprint.”
New Jersey-based Bai’s flagship Bai 5 brand is a line of naturally sweetened five-calorie beverages, infused with antioxidants in the form of coffeefruit and flavoured with exotic fruit juices.
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