UK: Dr Pepper/Seven Up Bottling Group Acquires Grant-Lydick Beverage Company of Texas
Grant-Lydick Beverage Company manufactures and distributes carbonated soft drinks in San Antonio, Austin, Harlingen, Victoria, Corpus Christi and La Grange, Texas. The brand portfolio embraces 7 UP, Sunkist, A&W, Big Red, R C Cola, Deja Blue and Snapple. Grant-Lydick is the largest distributor of Big Red in the United States and the ninth largest distributor of 7 UP. Net sales for the year ending 1999 were approximately $79 million. Grant-Lydick has 575 employees.
The Dr Pepper/Seven Up Bottling Group is the largest independent manufacturer and distributor of soft drinks and new age beverages in the United States with a distribution area covering 95 million people in 20 states. Net sales were approximately $1.8 billion in 1999. The company is the largest distributor of 7 UP and one of the largest Dr Pepper distributors in the United States accounting for 36% and 19% of the total volume, respectively.
John Sunderland, Chief Executive Officer of Cadbury Schweppes, said, "Dr Pepper/Seven Up Bottling Group's strong performance in first half 2000 encouraged us to search for further consolidation opportunities in the independent bottling system. Grant-Lydick represents an important step in growing route to market for Dr Pepper/Seven UP's brands in the US and provides a solid platform for continued strengthening of the independent bottling system."
Jim Turner, Chief Executive Officer and President, Dr Pepper/Seven Up Bottling Group, added, "This acquisition is an excellent strategic fit with our existing business. We are delighted to have the Grant-Lydick team as part of our Company to help us continue the dynamic growth of our brands and business."
Dr Pepper/Seven Up Bottling Group, Inc. is a joint venture formed by Cadbury Schweppes plc, The Carlyle Group, a global investment firm based in Washington, D.C. and Jim L Turner, the former owner of Dr Pepper Bottling Company of Texas.
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