Coca-Cola Co. has agreed to purchase Energy Brands Inc., known as Glacéau, and its enhanced water brands, including Vitaminwater, for $4.1 billion in cash. The purchase gives Coke a leg up in the fast-growing non-carbonated beverage market, in which Pepsico may have an edge. Glaceau, Whitestone, N.Y., makes flavored vitamin-enhanced drinks, fruit-flavored waters and energy drinks under the names Vitaminwater, Smartwater, Fruitwater and Vitaminenergy. It had 2006 sales of $355 million. The company will be run as a stand-alone business, with founder and CEO J. Darius Bikoff as well as top executives Mike Repole and Mike Venuti staying on for at least three years.
For more information, please visit: www.thecoca-colacompany.com/presscenter/nr_20070525_glaceau_acquisition.html.