Jones Soda Co. considers other buyers

March 23, 2010
/ Print / Reprints /
ShareMore
/ Text Size+

Jones Soda Co., Seattle, is listening to another potential suitor for a merger two weeks after it announced that Reed’s Inc., Los Angeles, had made an offer to acquire the soda company for a combination of $2.56 million in cash and 4.5 million shares of Reed’s common stock.

Jones terminated the exclusivity provision in its letter of intent with Reed’s to “explore an unsolicited, nonbinding transaction proposal submitted by another third party,” it said, in a statement. Jones has not identified the latest company to propose a merger.

Jones has not entered into an agreement with its newest suitor, it said, and a deal with Reed’s is not off the table. Jones will reimburse the company for out-of-pocket expenses not to exceed $75,000, it said.

In a statement two weeks ago, Jones Soda chairman Rick Eiswirth said that company had been working to return to profitability, but the combination of the recession and the company’s capitalization had forced it to find a merging partner.

 Did you enjoy this article? Click here to subscribe to Beverage Industry.  

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

International Pineapple Day at Bahama Breeze

In celebration of International Pineapple Day on April 2, Bahama Breeze locations across the country invited the media and consumers to celebrate with cocktails that feature the tropical flavor of the pineapple. (Photos by Liz Parker and Jennifer Haderspeck)

10/10/13 2:00 pm EDT

Ditch the weighting agents: A cost effective solution for delivering flavors and actives

Available On Demand Learn how to reduce costs and energy use by enabling high oil load emulsions, eliminating the need for weighting agents like brominated vegetable oil (BVO).

Beverage Industry Magazine

BI April 2014 cover

2014 April

The April 2014 Beverage Industry includes a cover story on moonshine, as well as articles about CSD brands, whiskey, and more. Check it out today!

Table Of Contents Subscribe

Beverage Insider eNewsletter

Are you an Insider? Subscribe to Beverage Industry’s weekly e-newsletter to receive news headlines, new product information and magazine highlights.   

Spirits Segments

Which spirits segment will perform the best in 2014?
View Results Poll Archive

THE BEVERAGE INDUSTRY STORE

cleaning-in-place-dairy-foo.gif
Cleaning-in-Place: Dairy, Food and Beverage Operations, 3rd Edition

This book addresses the principles of cleaning operations, water supply issues and the science of detergents and disinfectants.

More Products

Webinars

Beverage Industry Webinars are an easy, effective and convenient way to get educated and informed on the latest industry trends and topics. All Webinars are FREE unless indicated. For more information, check out our Events page!

STAY CONNECTED

facebook40 twitter    youtubelinked