US: PepsiCo ups stake in One Natural Experience
PepsiCo has increased its investment in coconut water producer One Natural Experience
PepsiCo has increased its investment in coconut water producer One Natural Experience (ONE), making it a majority shareholder in the firm.
The soft drinks giant confirmed the investment to just-drinks yesterday (9 December), but declined to give further information on the size of the stake.
"PepsiCo now also has a majority of seats on the ONE board, but the company will continue to be run by founder and CEO Rodrigo Veloso," a spokesperson for PepsiCo said. "The investment reflects ... our belief in the growth potential of the coconut water category in the US."
As part of the investment, distribution of the full line of ONE coconut water-based beverages - including ONE Coconut Water, ONE Active, and ONE Kids - will benefit from expanded distribution through PepsiCo's bottling arm, Pepsi Beverages Company, starting next year.
Massimo d'Amore, CEO, PepsiCo Beverages Americas, said: "Coconut Water is one of the fastest growing categories in the US beverage market and one in which we see a great deal of potential."
"Since we first invested in ONE, just over a year ago, the company has demonstrated to us that they have what it takes to succeed - a great product, a strong brand, experienced leadership, deep understanding of the marketplace and robust supply."
PepsiCo has held on to the top spot in a chart of commercial sponsorship spenders in the US in 2010....
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