Dr Pepper Snapple has stake in Rye drink company
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- July
- 31
Hydrive Energy LLC, the upstart drink company based in Rye, has granted Dr Pepper Snapple an equity stake in return for distributing the drinks to retailers, Hydrive announced.
Brian O’Byrne, the chief executive of Hydrive, said the deal is significant because Dr Pepper Snapple, based in Plano, Texas, is one of three beverage distributors with a national reach. The company covers 73 percent of the nation, he said.
“By hooking up with them, it means that we will have access to that level of distribution, which is huge,†he said.
Dr Pepper Snapple, which was born out of the spinoff of Cadbury Schweppes Americas Beverages from Cadbury Schweppes plc, is distributing Hydrive in various markets in the Midwestern and Eastern United States.
Hydrive was started by O’Byrne and company Chairman Mike Weinstein in 2006. O’Byrne is the former chief executive of Yoohoo/Orangina, while Weinstein is the former chief executive of Snapple Beverages Inc.
O’Byrne said the company markets Hydrive as a health alternative to carbonated energy drinks such as Monster, Red Bull and Full Throttle. Those drinks, he said, appeal to young males who are not particularly health conscious. They are popular as mixers with the nightclub crowd.
Hydrive drinks are not carbonated and have vitamins, electrolytes and anti-oxidents. A 15.5-ounce bottle has 145 milligrams of caffeine – about the same as a strong cup of coffee – and only 30 calories, he said.
This entry was posted
on Thursday, July 31st, 2008 at 4:05 pm by Allan Drury.
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