The Pepsi Bottling Group has lined up the distribution of the O.N.E. brand in two US states.

The bottler, which is due to come under the complete control of PepsiCo, said yesterday (22 September) that it has signed an agreement with One Natural Experience to to distribute its O.N.E. beverages in Southern California and South Florida.

Pepsi Bottling Group (PBG) also said that it has teamed up with private equity firm Catterton Partners to make an equity investment in the company.

Financial terms behind the distribution agreement and investments were not disclosed.

"One of the key drivers of PBG's success has always been our ability to consistently strengthen and diversify our brand portfolio," said Rob King, president of PBG North America. "This agreement with O.N.E. gives us access to a strong brand with attractive growth potential in the emerging coconut water segment. We look forward to adding it to our line-up in these two markets."

PBG will begin distribution in the fourth quarter.

O.N.E. was established in 2005 by Brazilian entrepreneur Rodrigo Veloso. The company launched O.N.E. Coconut Water three years ago, and has since followed it with several additional SKUs.