Jones Soda receives acquisition offer from Big Red

December 22, 2009
/ Print / Reprints /
ShareMore
/ Text Size+

Big Red Holdings Corp., Austin, Texas, made an offer to acquire Jones Soda, Seattle, for a cash purchase price of $0.30 per share of common stock. Jones Soda has been considering strategic alternatives, and its board of directors will conduct an evaluation of Big Red’s offer. The company indicated it may negotiate with carbonated soft drink manufacturer Big Red or choose to pursue other available avenues to enhance shareholder value, it said. 

“We have strived over the last 12 months to streamline our business by reducing costs and focusing on our core glass bottle business,” said Joth Ricci, Jones Soda’s president and chief executive officer, in a statement. “We have achieved improved year-over-year bottom-line results on lower case volumes, and we believe in the strength of the Jones Soda brand. However, adverse economic conditions have continued to negatively impact our liquidity and financial condition and caused us to explore strategic alternatives in an effort to enhance shareholder value.”

In February, the company retained North Point Advisors, San Francisco, to assist in evaluating Jones Soda’s strategic alternatives. Jones Soda has reviewed a broad range of options to enhance shareholder value, including the continued execution of the company’s business plan, potential fundraising opportunities, strategic partnerships and distribution agreements as well as potential combinations with strategic and financial investors. 

Jones Soda indicates Big Red’s offer is under consideration and may not result in any agreements or transactions. Big Red Inc. is the manufacturer of eight varieties of carbonated soft drinks, which are distributed in 43 states.

 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).

THE MAGAZINE

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