November's top stories: PepsiCo to buy KeVita, Coca-Cola's realignment in China
PepsiCo has signed an agreement to acquire KeVita, and The Coca-Cola company's Bottling Investments Group has entered into an agreement with COFCO Coca-Cola Beverages and Swire Beverages Holdings to refranchise its bottling operations in China. Drinks-insight-network.com wraps up the key headlines from November 2016.
PepsiCo entered into a definitive agreement to acquire KeVita, a fermented probiotic and kombucha beverages provider.
Financial details of the acquisition have not been disclosed.
PepsiCo's health and wellness offerings in the chilled beverage category are expected to expand with the transaction.
Beverage firm The Coca-Cola company's Bottling Investments Group China (BIG) entered into a definitive agreement with COFCO Coca-Cola Beverages and Swire Beverages Holdings to refranchise its current bottling operations in China.
As part of the agreement, the company's bottling system in China will be divided between COFCO and Swire.
In China, 18 bottling plants will be owned and operated by COFCO, and 17 by Swire.
Functional beverage brand Koia launched a plant-based protein and dairy-free drink with no excess sugar.
Koia is claimed to be one of the first refrigerated, ready-to-drink, 100% plant-based protein drinks range to retail in US.
According to the brand, the drink contains only plant-based ingredients and is soy-free, dairy-free, gluten-free, and non-genetically modified organism (GMO) and has no excess sugar or calories with five-to-one ratio of plant protein to sugar content.
US-based beverage company Constellation Brands agreed to acquire a brewery in Obregon, Mexico from Grupo Modelo for $600m.
Constellation Brands will submit a proposal to the US Department of Justice for the acquisition.
The deal will be subjected to customary closing adjustments and regulatory approvals.
Coffee company Starbucks launched its first single-origin Reserve coffee from India, called Starbucks Reserve India Tata Nullore Estate, in the US.
Starbucks collected its first single-origin Reserve coffee at The Nullore Estate in India.
The estate is owned by Tata Coffee and is claimed to be one of the largest arabica plantations in the Coorg coffee growing region of the southern part of India.
US-based flavoured beverages producer Dr Pepper Snapple Group (DPS) reached an agreement to acquire beverage company Bai Brands, along with its complete portfolio of antioxidant infused beverages.
The cash purchase price of $1.7bn includes a tax benefit of approximately $400m on a net present value basis and will be financed through new unsecured notes and a short-term commercial paper.
DPS stated that Bai offers a platform to enhance better-for-you formulations across the non-carbonated and carbonated beverage categories.
Food and Beverage organisation Dean Foods Company associated with an independent farmer cooperative, CROPP, in a joint venture to provide organic milk to retailers.
The firms aim to achieve this through Dean Foods' processing plants and refrigerated direct store delivery (DSD) distribution system.
The join venture will be a 50/50 growth platform for the firms. Dean Foods will offer processing services and distribution through its refrigerated distribution network.
US-based sparkling beverage firm Dry Soda introduced two new limited edition flavours, Ginger Dry Sparkling and Cranberry Dry Sparkling.
Ginger Dry Sparkling is claimed to be bold and spicy, to be paired with pot roast, bacon, brussels sprouts, sweet potatoes, and sweet treats such as snickerdoodles or carrot cake. It can also be used as a mixer for drinks made with whiskey or vodka.
The ginger flavoured drink contains around 70% less calories and sugar compared to similarly flavoured beers and ales currently on the market.
Australia-based Accolade Wines acquired Fine Wine Partners (FWP), the wine business of Lion.
Financial details of the deal have not been divulged.
Lion has been owned by Japanese brewery Kirin Holdings since 2009.
It owns beer brands such as XXXX, Boags and Tooheys, reported thedrinksbusiness.com.
Müller Milk & Ingredients (MMI) intends to invest £60m in five facilities and close Chadwell Heath dairy in the UK.
The firm plans to invest the amount in the upgrade of its processing facilities at Severnside, Foston, Droitwich, Manchester, and Bridgwater.
This investment will boost capabilities and operational efficiencies at its facilities. The enhancements will create up to 180 new jobs.