The Pepsi Bottling Group Inc. has signed an agreement with O.N.E. (One Natural Experience) to distribute O.N.E.'s coconut water and other beverages in Southern California and South Florida. Distribution will begin in the fourth quarter.
PBG also announced that, along with private equity group Catterton Partners, it has made an equity investment in O.N.E. Financial terms of the distribution agreement and investments were not disclosed.
"Working with PBG and Catterton, O.N.E. will have additional expertise and resources to ensure superior merchandising of O.N.E. products, a significantly expanded distribution network, and the ability to better serve our customers in two of our most important U.S. markets," said Rodrigo Veloso, founder and chief executive officer of O.N.E. "PBG and Catterton's partnership and capital infusion not only provide the company with deep expertise in the beverage industry, but also allows O.N.E. to expand its education campaign about the tremendous health benefits of our beverages. I am certain that we are now well positioned to lead the growth of the fast growing coconut water segment."