US: PepsiCo acquires Izze Beverage Co.
Soft drinks and food group PepsiCo has acquired the Colorado-based drinks company Izze Beverage Co.
Financial details of the transaction were not disclosed.
"Izze connects with people's interest in great-tasting, healthier beverages," said Dawn Hudson, president and CEO of Pepsi-Cola North America. "Izze drinkers are young, healthy, active, and incredibly loyal. We'll give Izze the freedom and autonomy to preserve its identity while we develop the brand and help it grow."
The deal sees PepsiCo add further to its range of healthier drinks, as consumers seek alternatives to sweetened carbonated soft drinks (CSDs). Izze's range of all-natural, sparkling fruit juices are currently sold through grocery retailers, coffee shops - including Starbucks - and other retail outlets. At present, the range is sold in the US, Canada, the Caribbean and the South Pacific region.
PepsiCo said it plans to retain Izze's current distribution network but expand the company's marketing activities. Co-founder and CEO Todd Woloson is to stay with the company which will be run as a separate unit, reporting to Hudson.
"Though we'll be run independently, there are immediate benefits to becoming part of PepsiCo," Woloson said. "Its sheer scale, along with its world-class marketing and sales teams, will create opportunities that I never would have thought possible four years ago. I'm looking forward to PepsiCo growing this business."
Izze is available in eight flavours: Sparkling Apple, Sparkling Blackberry, Sparkling Blueberry, Sparkling Clementine, Sparkling Grapefruit, Sparkling Lemon, Sparkling Pear and Sparkling Pomegranate. The drinks are sold in 4-packs, 12- packs, single-serve 12- and 16-ounce glass bottles, and single-serve 8.4-ounce cans.
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