Articles Tagged with ''mergers and acquisitions''

Bell’s Brewery founder, Larry Bell announced that he has reached an agreement with Lion, an Australian-based brewer, for the sale of Bell’s. Lion acquired Colorado’s New Belgium Brewing in 2019. The move will see the Michigan-based craft brewer come together with New Belgium ― aligning the two American craft brewers.  

ReserveBar, Ridgefield, Conn., has agreed to acquire New York-based Minibar Delivery, a leading marketplace featuring on-demand delivery of wine, spirits, beer, ready-to-drink cocktails, mixers and more. Minibar Delivery facilitates these deliveries by partnering with more than 2,800 retail partner locations nationwide, including independent liquor stores and iconic national brands such as 7-Eleven. The acquisition accelerates ReserveBar's expansion of its retailer fulfillment network and planned introduction of on-demand delivery capabilities. 

The Coca-Cola Co., Atlanta, announced that it has acquired full ownership of BODYARMOR, a line of sports performance and hydration beverages that is incremental to the Coca-Cola beverage portfolio and has significant potential for long-term growth. In 2018, Coca-Cola initially acquired a 15% stake in BODYARMOR with a path to full ownership, based on a pre-determined discount. Coca-Cola is paying $5.6 billion in cash for the remaining 85% of the company.

Health-Ade, Los Angeles, announced that long-standing partner First Bev has acquired a controlling stake in the company. The deal also is backed by powerhouse investors including Manna Tree, a Vail, Colo.-based investment firm committed to improving human health through nutrition.

Refresco, Rotterdam, Netherlands, entered into an agreement with The Coca-Cola Co., Atlanta, to acquire three of its production locations in the United States. This transaction is subject to regulatory approval.

PepsiCo Inc., Purchase, N.Y., has entered into an agreement with PAI Partners (PAI) to sell Tropicana, Naked and other select juice brands across North America, and an irrevocable option to sell certain juice businesses in Europe, which will result in combined pre-tax cash proceeds of approximately $3.3 billion while retaining a 39% non-controlling interest in a newly formed joint venture. PAI, a leading private equity firm with strong experience in the food and beverage space, will be the majority shareholder of the transferred business, with PepsiCo retaining exclusive U.S. distribution rights to the portfolio of brands in its chilled direct-store-delivery for small-format and foodservice channels.

Primo Water Corp., Tampa, Fla., announced that Primo Water North America (PWNA), a wholly owned subsidiary of Primo, substantially acquired all of the assets of The Sweetwater Co. Inc., doing business as Earth2O. The bottled water company is based in Oregon and known for its commitment to sustainable water, environmental responsibility and natural, pure spring water from Oregon's Cascade Range.

Along with other news on developments and acquisitions, ingredient companies are spreading the word about new ingredients, including functional and masking ingredients.