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.
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