The soda maker will purchase the antioxidant drink manufacturer for $1.7 billion
Dr Pepper Snapple Group has announced its plans to purchase Bai Brands for $1.7 billion, Fortune reports. Bai makes antioxidant beverages.
“We’re excited to welcome Bai into our family of great brands,” said Larry Young, DPS president and CEO, in a press release. “In a relatively short time, Bai has carved out a leadership position in the enhanced water category and has now extended that success into other fast-growing and profitable categories. We’re equally impressed with their innovation pipeline, which will continue to meet the needs of consumers seeking great tasting, low-calorie beverages with natural flavors and no artificial sweeteners.”
Analysts point out that the move is another instance of soda makers acquiring beverages that have a healthier “glow.” Bai means “pure” in Mandarin Chinese.
Bai uses plant-based ingredients to sweeten its drinks before infusing them with antioxidants from white tea and coffee fruit. The beverages contain no artificial sweeteners, and boast five calories and one gram of sugar per serving.
“Over the past seven years, Bai has proven to be an agent of change in a marketplace that is rapidly evolving,” said its founder Ben Weiss, in a press release. “We’ve worked tirelessly to challenge the notion that better-for-you beverages can’t taste good.”
Dr Pepper Snapple already held a minority share in the company, which it bought last year for $15 million. The deal will probably close during the first quarter of 2017.