The Top 100 Beverage Companies
By RENEE PAST
There are a few common themes
among the Top 10 beverages companies, with lights, diets and anything that
can be altered as a healthier version leading the charge. That theme
extends from soft drinks to beer to juice; if it’s on the market
today, you can bet someone is working to tweak a lighter version. Some
products, like Diet Sprite, didn’t even change its formulation, just
its name — Diet Sprite Zero/Sprite Zero — to emphasis its
Two light versions that didn’t work in 2004 were
the mid-calorie cola versions from Pepsi-Cola and Coca-Cola, which never
quite found a niche with consumers. Pepsi has already come out in 2005
saying its Pepsi Edge will be phased out by the end of year.
Reinforcing the healthy theme, Pepsi and Kraft both
introduced logos last year for better-for-you products and plan to continue
to aggressively market them this year. Kraft’s commitment to the idea
extends to the point of phasing out advertising on products that
don’t meet its Sensible Solutions criteria.
On the global front, all eyes are on China. It is the
single international market where you’ll find every beer company
vying for position right now. It continues to be a developing market and
investment activity will likely take center stage in 2005.
Here’s a round-up of last year’s
activities among the Top 10 beverage companies, along with some early 2005
THE COCA-COLA CO.
The aftermath of Coca-Cola’s 2000 and 2003
realignments continued to negatively impact to the organization in 2004
with its annual report conceding that “…Our bench strength has
been weakened” as a result of the realignments. Coca-Cola intends to
simplify roles and responsibilities now.
Garnering the biggest role change in 2004 was E. Neville
Isdell, who became chairman and chief executive officer on June 1 following
the retirement on Doug Daft. Also last year, Donald R. Knauss was appointed
executive vice president of Coca-Cola and president and chief operating
officer of Coca-Cola North America; and Charles B. Fruit became senior vice
president and chief marketing officer.
New product introductions included line extensions a
la Diet Coke with Lime and the launch of mid-calorie Coca-Cola C2. Diet
Sprite was also rebranded as Diet Sprite Zero/Sprite Zero. Another
“Zero” product hits the market this summer with the
introduction of Coca-Cola Zero, a new zero-calorie cola.
This is the year Coca-Cola has said it will seek to
gain more presence in the immediate-consumption channel. That started early
in the year with the launch of Full Throttle in January. It marked
Coca-Cola’s first foray into the energy drink segment and was largely
introduced via the convenience channel. Two other products got new
single-serve packages for 2005: Hi-C Blast and Simply Orange.
The diet push continues as well for 2005. Diet and
light products are expected to be a primary focal point in 2005 as Coke
“intends to make investments to accelerate that growth.”
Already out is new Diet Coke sweetened with Splenda.
Expect more aggressive marketing overall this year
from Coke as the marketing budget expands to $400 million.
As part of its commitment to focus attention on
consumer health problems from obesity and inactive lifestyles, Coca-Cola
created The Beverage Institute for Health & Wellness to support
scientific research and education.
Two interesting new international products launched
last year included Fanta Naranja Chamoy in Mexico, featuring the taste of a
popular Mexican sweet chili; and Aqua Shot in New Zealand, a fruit-flavored
water with a boost of vitamins.
Nestlé Waters’ sales basically were
unchanged globally and account for 7.9 percent of sales for Nestlé,
with 77 brands. Strong U.S. sales in 2004 made up for the poor summer
weather in Europe. North America and Europe combined account for 90 percent
of water sales, with 45 percent of that being North American sales.
North American sales bounced back and returned to the
excellent growth seen two years ago with a 9.7 percent change, beating
Nestlé’s market growth estimates of 7.5 percent. That’s
despite the increasingly competitive water climate driven by the soft drink
majors which resulted in a general reduction in prices in 2004.
Nestlé Waters’ also had 15 percent growth in the small format
Water sales in Europe decreased 8.4 percent for
Nestlé, largely blamed on unfavorable weather conditions that
followed the heat wave of 2003. Nestlé Waters’ is continuing
its integration of home-office-deliveries in Europe in 2005.
The European market this year will see an expanded
flavored water segment with no-sugar products to include Lime/Grapefruit
and White Peach/Apricot for Contrex, Raspberry Cranberry, Lemon and Lime
for Vittel and Raspberry for Perrier. The Contrex brand also will market a
slightly carbonated water aimed at women, while Vittel is coming out with
Vitalitos for children that features a new package size just for small
Europe will also receive a downward price
repositioning of Nestlé Aquarel to accelerate growth, as well as the
arrival of Nestlé Pure Life.
The price repositioning started at the end of 2004 as
part of a long-term strategy to bring Nestlé Waters into the value
brand sector. It is also intended to let Nestlé Waters compete in
multiple channels, including discount outlets, which have become key
players in the European market.
Decreasing price to defend market share has become
critical in North America, which is deemed Nestlé’s main catalyst for growth. Nestlé Waters’ reports
compensating for lower pricing through increases in volume and market
share, plus increased efficiencies and overhead savings.
Nestlé’s value brand, Nestlé Pure Life “played an
important defensive roll for our regional spring water brands,” the
In other beverage segments, new technology was rolled
out in Europe last year to improve the taste of Nescafé soluble
coffee and improve the creaminess of cappuccino. Nestlé is currently
working to increase demand for coffee through a better understanding of the
positive effects of coffee on the human body.
Nestlé also expanded Nesquik ready-to-drink in
vending machines in schools and has a major initiative to strengthen
nutritional benefits of brands. Benefits have been added in some products,
like Nesquik Nutri Active B in Latin America.
Diageo has had a busy start to 2005. The spirits
leader extended its portfolio of premium wines in February with the
addition of The Chalone Wine Group Ltd. (acquired for $275 million) to its
U.S. wine operation, Diageo Chateau & Estate Wines. Diageo also formed
a partnership with Heineken this year to produce and distribute Guinness in
Russia and acquired Netherlands distiller Ursus vodka.
At presstime, Diageo was looking to continue its
buying spree after news hit that Pernod Ricard made an offer for Allied
Domecq. Diageo refinanced some $750 million in existing debt to free up its
financial position. Although it would only be a small piece of Allied
Domecq, the brands Diageo is interested in are Courvoisier cognac,
Maker’s Mark bourbon, plus Allied’s wine portfolio.
Diageo has been involved in deals with both Allied
Domecq and Pernod Ricard in the past. The biggest was the partnership with
Pernod Ricard to buy Seagram’s drinks business from Vivendi Universal
for $8.2 billion in 2001. That same year, per the Federal Trade Commission,
Diageo sold Malibu Rum to Allied Domecq for $796 million.
Two of the big brands Diageo got in the Seagram deal
were Chivas Regal and Crown Royal, plus Sterling Vineyards wines and The
Monterey Vinyard wines.
Diageo credits growth of Crown Royal and Sterling
Vineyards, plus its Beaulieu Vineyard, for offsetting mixed performance of
other local priority brands in the past six months of 2004 for North
America. [Diageo dubs local priority brands as market-level brands with
limited geographic scale vs. global brands.] Crown Royal volume was up 7
percent and volume at the two vineyards combined to grow 27 percent.
Smirnoff continues to be Diageo’s most important
global brand. Excluding ready-to-drink (RTD), Smirnoff volume was flat at
the end of Diageo’s fiscal year, June 30, 2004. Net sales, however,
were up 5 percent, which is credited to a pricing revision and new
Smirnoff RTD volume was up 15 percent for the fiscal
year and another 10 percent over the last six months of 2004, largely
driven by Smirnoff Twisted V.
The last six months of 2004 also brought strong
performance results for Captain Morgan, with volume and net sales both up
12 percent driven by Original Spiced Rum and the launch of new Parrot Bay
The only other double-digit volume increase over that
period was from Jose Cuervo, with a 10 percent increase. The brand had its
first television ad campaign during that period.
The end of 2004 did not bode well for Baileys, which
saw a volume decrease of 5 percent. The drop is largely the result of
Baileys Minis sales tapering off after the 2003 launch.
The largest brewer is out to restore its volume
momentum despite declining U.S. beer sales. That’s what president and
chief executive officer Patrick Stokes declared during the company’s
2005 BUD Investor Conference at the end of May after first quarter domestic
beer volume was below expectations. Domestic beer sales to wholesalers
decreased 2.7 percent for the first quarter of 2005 vs. the same period in
Stokes identified four priorities to stimulate growth:
improve the image and desirability of beer; keep beer fun and social; grow
beer occasions; and improve retail execution.
Anheuser-Busch has had several new product
introductions that started in test markets last year. BE officially became
the first new national item of 2005. The more contemporary version of beer
brings some of the same ingredients that have dominated new products in the
alternative beverage category with caffeine, ginseng and guarana all on the
list. In its sleek 10-ounce can, BE is targeted to go head-to-head with
mixed drinks and Anheuser-Busch likely hopes it’s the answer to the
popular Red Bull-plus-vodka drink.
Anheuser-Busch’s newest launch is Budweiser
Select, an upscale beer on the market since February that is being
supported with a massive promotional campaign. Bacardi Silver is also out
with a new flavor — Watermelon — for the summer.
Last year closed with Anheuser-Busch’s new
16-ounce aluminum bottles hitting the market for Michelob, Michelob Light
and Anheuser World Select.
On the global front, Anheuser-Busch continues to look
to build a stronger international presence, which includes joint ownership
of Grupo Modelo in Mexico. The company is expanding its presence in China,
where it acquired Harbin Brewery Group in 2004. Anheuser-Busch increased
its economic interest in Tsingtao Brewery Co. Ltd. to 27 percent in April
2005. It is the largest non-government shareholder in Tsingtao. The Chinese
beer market is already larger than the U.S. beer market and is said to be
the fastest-growing beer market in the world.
Also notable in 2005, investor Warren Buffet’s
Berkshire Hathaway is now a “significant shareholder” in
During its 2004 annual results presentation, Heineken
announced it would make a larger investment in marketing and packaging
innovation in 2005. As promised, and just in time for summer picnics,
Heineken introduced its new portable draught beer system in May in the
United States. The portable 4.75-liter Heineken DraughtKeg is a
pressurized, disposable system with a mini tap that keeps beer fresh for 21
days. The product follows the 2004 introduction of BeerTender,
Heineken’s home draught beer system.
Heineken also started testing its new Heineken Premium
Light Lager as of March. The new beer is lighter in taste and has fewer
calories and carbohydrates than regular Heineken.
On the global front, Heineken is focused on growth in
China as the most important developing beer market for the company. To
focus on extending the brand there, Heineken started local production in
China in 2004.
The company further strengthened its position in China
this March when it acquired a 40 percent share in Jiangsu DaFuHao Breweries
through its joint venture with Fraser & Neave. The acquisition was
valued at $28.6 million.
Russia is another market in which Heineken anticipates
to see beer gaining, estimating 5.5 percent growth this year. Heineken
recently upped its position in that market with the acquisition of Patra
brewery in Yekaterinburg, Russia. The move will grow Heineken market share
in Russia to 8.3 percent.
Internally, Heineken initiated top management
restructuring in early 2005 in preparation for the fall retirement of its
chairman Thony Ruys and executive board member Brau Union. Jean Francois
van Boxmeer will succeed Ruys as chairman and chief executive officer.
The regional president for the Americas region will be
Massimo von Wunster, currently the managing director of Heineken Italia.
SABMILLER sales grew the largest of any of the Top 10
beverages companies, jumping $4.5 billion to $12.6 billion in sales for
2004. Some of the difference can be attributed to 2004 being the first full
year that Miller Brewing Co. sales were included in the mix, 2003 totals
only had nine months of Miller sales. That took North American sales from
$3.4 billion in 2003 to $4.8 billion in 2004.
There are a lot of makeovers happening within the
SABMiller family brands, starting with new advertising, promotions and
packaging for Miller Lite and Miller Genuine Draft. The change was designed
to maximize the impact of the Miller name on those brands. Miller High Life
brand packaging also was changed to more clearly differentiate between High
Life and High Life Light. And the Australian beer Foster’s got a
facelift, basically an enhanced version, to again draw attention at retail.
Overall, the company emphasized it had a more
disciplined approach to Miller brand marketing in North America last year.
Miller also did some internal restructuring in 2004 with more than 200
personnel changes in marketing and sales. Additionally, the United States
was segmented into 88 market areas and then broken down to 33 high-focus
markets. This year Miller Brewing celebrates its 150-year anniversary.
As of early 2005, Miller Brewing will start U.S.
distribution of Peroni Nastro Assurro, the new name for SABMIller’s
Italian premium beer formerly known as Nastro Assurro. It, too, has gotten
a recent makeover to go with its new global strategy. As of early 2005, the
new label has a more contemporary feel and longer neck bottle. The name was
changed to Peroni Nastro Assurro for all international markets, save Italy
were it will remain Nastro Assurro. In February, SABMiller increased its
investment in Birra Peroni, Italy’s second-largest brewer, to 99.8
Like the other major beer companies, SABMiller is also
seeking to stake its claim in China. This April, SABMiller associate China
Resources Snow Breweries Ltd. announced it will be acquiring the assets of
Fuyang City Snowland Brewery Company, a Chinese brewery in the Anhui
province, for $15 million. That follows last summer’s 90
percent-interest acquisition of Shucheng and Liuan breweries.
With a new name and logo, the creation of InBev was
final Aug. 27, 2004. It is the result of the combination of Interbrew and
AmBev (Companhia de Bebidas das Américas).
The real transformation to InBev, however, started
back in 2003 when Interbrew began integrating what had historically been a
decentralized brewer under the leadership of chief executive officer John
Brock. Brock joined Interbrew in 2003 from Cadbury Schweppes.
The AmBev combination served as a catalyst in speeding
up the integration strategy. The new entity now seeks to move from
“the biggest to the best.”
When AmBev came on board it brought to the table its
domination of the Brazilian market, as well as its strength in Central and
South America in both beer and carbonated soft drinks. InBev now has a
large nonalcoholic brand portfolio in Brazil that includes Guarana
Antartica (the No. 2 Brazilian soft drink brand, produced with guarana
fruit), Gatorade, Pepsi-Cola and Lipton Iced Tea.
InBev’s primary focus is premium beers, led by
global flagship brands Stella Artois and Beck’s. Acquired in 2002,
Beck’s launched in Russia, Ukraine, Bulgaria and China in 2004.
[InBev’s interest in China expanded in 2004 through the integration
of 12 acquired breweries and six joint ventures.]
The Beck’s brand has not had a great run in the
United States as share has continuously declined over the past decade. Now
InBev believes it has turned the corner with Beck’s in the United
States with a new sales and marketing campaign credited for the rebound.
Bass may also be seeing the early signs of a U.S.
turnaround; it was down only 5.7 percent for 2004 vs. 14.2 percent in 2003.
The refocus for Bass includes new U.S. distribution in major national
InBev had two major corporate changes last year that
impacted the United States, the end of its relationship with the Dos Equis,
Tecate and Sol brands, and the creation of InBev USA. InBev severed its
partial ownership of FEMSA in the United States and Mexico in 2004.
Dissolving the FEMSA relationship led to the formation of InBev USA by
bringing together Beck’s North America and Labatt USA. It also gives
InBev USA more flexibility and allows for “unencumbered focus”
on its proprietary premium brands.
|Top Bottlers and Distributors
||2004 SALES (IN U.S. MILLIONS)
|COCA-COLA ENTERPRISES INC.||ATLANTA, GA.||18,158|
|THE PEPSI-COLA BOTTLING GROUP||SOMMERS, N.Y.||10,906|
|SOUTHERN WINE & SPIRITS OF AMERICA INC.||MIAMI, FLA.||5,400|
|COCA-COLA FEMSA||MONTEREY, MEXICO||4,173|
|PEPSI AMERICAS||ROLLING MEADOWS, ILL.||3,345|
|GLAZER'S WHOLESALE DRUG CO. INC.||DALLAS, TEXAS||2,200*|
|DR. PEPPER/SEVEN UP BOTTLING GROUP||DALLAS, TEXAS||1,900*|
|CHARMER-SUNBELT GROUP||NEW YORK, N.Y.||1,700*|
|NATIONAL DISTRIBUTING CO. INC.||ALTANTA, GA.||1,400|
|YOUNG'S MARKET CO.||ORANGE, CALIF.||1,400*|
|COCA-COLA BOTTLING CO. CONSOLIDATED||CHARLOTTE, N.C.||1,257|
|HONICKMAN AFFILIATES||PENNSAUKEN, N.J.||1,100|
|PEERLESS IMPORTERS INC.||BROOKLYN, N.Y.||1,000*|
|CHARMER INDUSTRIES INC.||ASTORIA, N.Y.||785*|
|GEORGIA CROWN DISTRIBUTING CO.||COLUMBUS, GA.||730*|
|JOHNSON BROTHERS WHOLESALE LIQUOR CO.||ST. PAUL, MINN.||650*|
|NATIONAL WINE & SPIRITS INC.||INDIANAPOLIS, IND.||514|
|PEPSI BOTTLING VENTURES||RALEIGH, N.C.||510|
|BUFFALO ROCK CO.||BIRMINGHAM, ALA.||425|
|SWIRE PACIFIC HOLDINGS||DRAPER, UTAH||415*|
InBev USA got its first focus on a new brand in March
this year with the global launch of Brahma in more than 15 countries.
InBev says Brahma will break existing beer paradigms
with its Brazilian flavor and spirit — it is said to have a papaya
afternote. It’s packaged in a contoured bottle that is designed to
fit ergonomically into consumers’ hands.
biggest promotional effort for PepsiCo Beverages North America in 2004 went
to the launch of its Smart Spot symbol, which identifies products that
contribute to healthier lifestyles. It can be found on a number of beverage
products, including Tropicana Pure Premium, Gatorade Thirst Quencher and
Diet Pepsi. National promotions around Smart Spot continue for 2005.
The biggie in the summer line-up this year is the full
national distribution of Pepsi Lime and Diet Pepsi Lime. There is also a
newly reformulated Pepsi One on the market, made with Splenda. Gatorade
will also be out with a new sub-line, Endurance Hydration Formula,
following the 2004 subline launch of Gatorade X Factor. Gatorade continued
to perform in 2004, achieving double-digit growth.
Other Pepsi brands out with new additions early in
2005 were Dole and Aquafina. Dole added a 50-percent juice line, Dole
Lights, with half the sugar of regular juices; and Aquafina expanded with
the carbonated Aquafina Sparkling and the flavored FlavorSplash line.
Tropicana Light ’n Healthy also got a plug from WeightWatchers this
year and now includes WeightWatchers Points values on its packaging.
Tropicana Light ’n Healthy was launched in 2004 as part of the
Tropicana Essentials subline of fortified beverage and juice products. They
contain half the calories and carbohydrates of regular orange juice.
Diets and healthier sublines encompassed much of 2004
for Pepsi, tying in with its Smart Spot push. The company upped the ante on
its Diet Pepsi advertising and promotions, changed the name of Diet Sierra
Mist to Sierra Mist Free (as in free of sugar, calories and carbohydrates)
and launched a new Aquafina campaign encouraging consumers to “Drink
And then there was Pepsi Edge, the full-flavored soda
with 50 percent fewer calories than regular cola that failed to find a
niche. It will be phased out by the end of this year.
Limited-time products in 2004 included grape-flavored
Mountain Dew Pitch Black for Halloween, and Pepsi Holiday Spice, with
ginger and cinnamon.
On the global front, PespiCo is on the verge of
strengthening its position in Germany. In May, PepsiCo announced it would
acquire Punica Getranke GmbH, a German fruit juice and drink company.
Punica’s range of brands includes fruit nectars, juice drinks, teas
and schorles (fruit juice and sparkling mineral water).
Suntory International Corp. out of New York acts as a
holding company to import and market Suntory products in the United States.
It is part of an even larger holding company, Suntory Group, which includes
a large array of subsidiaries that cover ventures from managing Morrison
Bowmore Distillers in Scotland to a biotech division trying to develop a
Suntory International’s main activity in the
United States is through Pepsi Bottling Ventures LLC, of which it has a 65
percent investment; and DS Waters of America, which was jointly created
with the North American operation of Group Danone and includes regional
brands such as Crystal Springs and Hinckley Springs.
The Japanese arm, Suntory Ltd., is most noted for
spirits, wine and beer, particularly its whiskey. When it came out this May
with a limited 50-bottle supply of special single malt whiskey dubbed
Yamazaki 50 Years, named after the distillery where it mellowed for more
than 50 years, it sold out in one hour to the tune of 1 million yen per
bottle ($9,360 U.S.).
Suntory has a wealth of new products on the market in
Japan, and like other Japanese brewers, is seeing growth in low-alcohol
brews. Functional, health-related products are also growing in Japan, with
Suntory launching a functional water for diabetics this spring.
The bottled water, Mizumizu-Shia, is supposed to help
control a rise in blood sugar after eating. It contains deep ocean seawater
and dietary fiber.
Suntory was one of the first major international
brewers to enter the China market, back in 1984 with China Jiangsu Suntory
Foods Co. Ltd. It entered the Shanghai market in 1995 and now holds more
than a 40 percent share there.
KRAFT FOODS INC.
The biggest beverage news to come out of Kraft Foods
in 2004 was its acquisition of juice producer Veryfine Products Inc. in
March. Veryfine’s lineup includes fruit juices, cocktails, punches
and nectars, along with Fruit20, a fruit-flavored bottled water.
Like PepsiCo, one of Kraft’s big initiatives
last year was the introduction of its Sensible Solution program that flags
better-for-you items. Kraft has gone as far as saying it will phase out
advertising on all products that don’t meet the Sensible Solutions
Kraft had a big win last year through an expansion of
its licensing agreement with Starbucks Corp. through which Kraft now
distributes Seattle’s Best Coffees nationwide. The expanded agreement
also landed Tazo Teas in the grocery channel nationwide.
On the new product side, Kraft introduced Crystal
Light Sunrise with vitamin C and calcium in the United States. During the
first six months 85 percent of the new item’s volume came from
purchases that were incremental to the base Crystal Light business, Kraft
said, with 25 percent of its volume coming from orange juice sales.
Coffee plays a large role in Kraft’s beverage
portfolio. In 2004, a number of Kraft coffee brands launched coffee filter
pods, including Maxwell House in the United States. The idea is that
consumers can brew individual cups of coffee in single-serve pod machines.
Kraft also introduced its new at-home hot beverage machine, Tassimo, which
it believes will revolutionalize at-home coffee consumption. Tassimo makes
cappuccino, tea and hot chocolate at the touch of a button. France is the
leading market for the product.
In Canada, Kraft introduced shelf-stable Kool-Aid
ready-to-drink sports drink. The product grew Kool-Aid ready-to-drink
revenue by 37 percent.
Among Kraft’s worldwide markets, Tang takes
center stage, now in 80 countries. China has become a focus for Kraft, and
Tang is growing in popularity there. In 2004, Kraft introduced new flavored
Tang Fruit Teas in China and Tang Milk Mixers, plus increased marketing
support for Hot Tang. BI
|Top 100 Beverage Companies
||2004 sales (in U.S. Millions)
||COCA-COLA CO., ATLANTA, GA.
||SOFT DRINKS, WATER, ALTERNATIVE BEVERAGES, JUICE
||NESTLE SA, VEVEY, SWITZERLAND
||COFFEE, WATER, JUICE, DAIRY, MIXES
||DIAGEO, LONDON, U.K.
||SPIRITS, WINE, BEER
||ANHEUSER-BUSCH INC., ST. LOUIS, MO.
||HEINEKEN NV, AMSTERDAM, THE NETHERLANDS
||BEER, WINE, SPIRITS, SOFT DRINKS
||SABMILLER, LONDON, U.K.
||BEER, WINE, SPIRITS, ALTERNATIVE BEVERAGES
||INBEV, LEUVEN, BELGIUM
||PEPSICO INC., PURCHASE, N.Y.
||SOFT DRINKS, WATER, JUICE, ALTERNATIVE BEVERAGES
||SUNTORY INTERNATIONAL CORP., NEW YORK, N.Y.
||KRAFT FOODS INC., NORTHFIELD, ILL.
||COFFEE, POWDERED DRINKS, DAIRY DRINKS, ALTERNATIVE BEVERAGES
||ALLIED DOMECQ, BRISTOL, U.K.
||STARBUCKS CORP., SEATTLE, WASH.
||PERNOD-RICARD, PARIS, FRANCE
||SPIRITS, WINE, JUICE
||DANONE GROUP, PARIS, FRANCE
||WATER, DAIRY DRINKS
||CADBURY SCHWEPPES AMERICAS BEVERAGES, LONDON, U.K.
||SOFT DRINKS, JUICE
||UNILEVER GROUP, LONDON, U.K.
||COORS BREWING CO., GOLDEN, COLO.
||GROUPO MODELO SA, MEXICO CITY, MEXICO
||CONSTELLATION BRANDS INC., CANANDAIGUA, N.Y.
||BEER, WINE, SPIRITS
||BACARDI LTD., PEMBROKE, HM BERMUDA
||SARA LEE CORP., DOWNERS GROVE, ILL.
||E&J GALLO WINERY, MODESTO, CALIF.
||FOSTERS GROUP LTD, SOUTHBANK VICTORIA, AUSTRALIA
||RED BULL GMBH, FUSCHL AM SEE, AUSTRIA
||BROWN-FORMAN CORP., LOUISVILLE, KY.
||MOLSON, MONTREAL, QUEBEC
||COTT CORP., TORONTO, CANADA
||SOFT DRINKS, WATER, JUICE, TEA, SPORTS DRINKS
||OCEAN SPRAY CRANBERRIES INC., LAKEVILLE-MIDDLEBORO, MASS.
||JIM BEAM BRANDS WORLDWIDE INC., DEERFIELD, ILL.
||THE GAMBRINUS CO., SAN ANTONIO, TEXAS
||SCHIEFFELIN & CO., NEW YORK, N.Y.
||DAVIDE CAMPARI/SKYY SPIRITS, MILAN, ITALY
||SPIRITS, SOFT DRINKS
||S&P CO., MILL VALLEY, CALIF.
||SOUTHCORP LTD, MELBOURNE, AUSTRALIA
||WELCH'S/NATIONAL GRAPE COOP. ASSOC., CONCORD, MASS.
||FLORIDA'S NATURAL GROWERS, LAKE WALES, FLA.
||NATIONAL BEVERAGE CORP., FORT LAUDERDALE, FLA.
||SOFT DRINKS, ALTERNATIVE BEVERAGES
||THE ROBERT MONDAVI CORP., NAPA, CALIF.
||FEROLITO, VULTAGGIO & SONS, LAKE SUCCESS, N.Y.
||ALTERNATIVE BEVERAGES, BEER
||KENDALL-JACKSON WINE ESTATES LTD., SANTA ROSA, CALIF.
||MOUNTAIN VALLEY SPRING CO., HOT SPRINGS NATIONAL PARK, ARK.
||HEAVEN HILL DISTILLERIES INC., BARDSTOWN, K.Y.
||CAMPBELL SOUP CO., CAMDEN, N.J.
||JUICE, ALTERNATIVE BEVERAGES
||THE WINE GROUP, RIPON, CALIF.
||TREE TOP INC., SELAH, WASH.
||BANFI VINTNERS, OLD BROOKVILLE, N.Y.
||TRINCHERO FAMILY ESTATES, ST. HELENA, CALIF.
||PROCTER & GAMBLE, CINCINNATI, OHIO
||SOFT DRINKS, COFFEE
||UST INC., GREENWICH, CONN.
||BOSTON BEER CO. INC., BOSTON, MASS.
||LE-NATURE'S, LATROBE, PA.
||WATER, ALTERNATIVE BEVERAGES
||THE TERLATO WINE GROUP, LAKE BLUFF, ILL.
||FARMER BROS. CO., TORRANCE, CALIF.
||HALEWOOD INTERNATIONAL LTD., LIVERPOLL, ENGLAND
||NAKED JUICE CO., AZUSA, CALIF.
||HANSEN NATURAL CORP., CORONA, CALIF.
||SOFT DRINKS, JUICE, ALTERNATIVE BEVERAGES, WATER
||WHITE ROCK DISTILLERIES INC., LEWISTON, MAINE
||PEET'S COFFEE & TEA, EMERYVILLE, CALIF.
||GREEN MOUNTAIN COFFEE ROASTERS INC., WATERBURY, VT.
||OLD ORCHARD BRANDS, SPARTA, MICH.
||SAZERAC CO., NEW ORLEANS, LA.
||D.G. YUENGLING & SON, POTTSVILLE, PA.
||UNITED STATES BEVERAGE, STAMFORD, CONN.
||LANGER JUICE CO. INC., CITY OF INDUSTRY, CALIF.
||APPLE & EVE L.P., ROSLYN, N.Y.
||BIG RED INC., WACO, TEXAS
||SMUCKER QUALITY BEVERAGES INC., CHICO, CALIF.
||JUICE, SOFT DRINKS, TEA
||TODHUNTER INTERNATIONAL INC., WEST PALM BEACH, FLA.
||VERMONT PURE HOLDINGS LTD., WATERTOWN, CONN.
||NORTHLAND CRANBERRIES, WISCONSIN RAPIDS, WIS.
||GLACIER WATER SERVICES INC., VISTA, CALIF.
||THE CHALONE WINE GROUP LTD., NAPA, CALIF.
||DEIDRICH COFFEE, IRVINE, CALIF.
||TETLEY US HOLDINGS INC., SHELTON, CALIF.
||TULLY'S COFFEE CORP., SEATTLE, WASH.
||LAIRD & CO., SCOBEYVILLE, N.J.
||CRYSTAL GEYSER ROXANNE WATER, OLANCHA, CALIF.
||LEADING BRANDS INC., RICHMOND, BRITISH COLUMBIA
||JUICE, WATER, ALTERNATIVE BEVERAGES, SOFT DRINKS
||PYRAMID BREWERIES, SEATTLE, WASH.
||BEER, SOFT DRINKS
||WISSAHICKON MOUNTAIN SPRING WATER INC., PHILADELPHIA, PA.
||THE LION BREWERY INC., WILKES-BARRE, PA.
||BEER, SOFT DRINKS
||REDHOOK ALE BREWERY INC., WOODINVILLE, WASH.
||BROOKLYN BOTTLING CO., BROOKLYN, N.Y.
||ENERGY BRANDS, WHITESTONE, N.Y.
||WATER, ALTERNATIVE BEVERAGES
||FUZE BEVERAGE, ENGLEWOOD CLIFFS, N.J.
||ALTERNATIVE BEVERAGES, TEA, WATER
||GO FAST SPORTS & BEVERAGE CO., DENVER, COLO.
||UNITED STATES DISTILLED PRODUCTS CO., PRINCETON, MINN.
||WIDMER BROS. BREWING CO., PORTLAND, ORE.
||JONES SODA CO., SEATTLE, WASH.
||SOFT DRINKS, ALTERNATIVE BEVERAGES
||KLARBRUNN INC., WATERTOWN, WIS.
||BROOKLYN BREWERY, BROOKLYN, N.Y.
||PITTSBURGH BREWING CO., PITTSBURGH, PA.
||TALKING RAIN BEVERAGE CO. INC., PRESTON, WASH.
||LE BLEU CORP., ADVANCE, N.C.
||WATER, SOFT DRINKS, ALTERNATIVE BEVERAGES
||CHOICE USA BEVERAGE INC., LOWELL, N.C.
||SOFT DRINKS, WATER
||MERIDIAN BEVERAGES, ATLANTA, GA.
||WATER, ALTERNATIVE BEVERAGES
||R.H. PHILLIPS INC., ESPARTO, CALIF.
||FREIXENET USA, SONOMA, CALIF.
||CLEARLY CANADIAN, VANCOUVER, BRITISH COLUMBIA
||SOFT DRINKS, BOTTLED WATER
||WHITE ROCK CORP., WHITESTONE, N.Y.
||SOFT DRINKS, BOTTLED WATER