Dr Pepper Snapple (DPS) Group announced on Nov. 22 that the company would acquire the beverage company Bai Brands, LLC. in a $1.7 billion deal.
Bai Brands is home to antioxidant-infused water (both carbonated and non-carbonated) in different fruit flavors, such as Andes Coconut Lime and Congo Apple Pear. The company repurposes the pulp of coffee fruit, referred to as “nature’s secret weapon,” to tap into its free-radical fighting sources, according to the company website.
“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,” Larry Young, Dr Pepper Snapple president and CEO, said in a statement. "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."
The deal is expected to close in the first quarter of 2017.