Keurig Dr Pepper to acquire drink maker Core Nutrition for $525mn

By Laura Mullan
Share
Keurig Dr Pepper has agreed to buy Core Nutrition LLC, a maker of bottled waters and hydration drinks, in a $525mn deal. The purchase is the latest sig...

Keurig Dr Pepper has agreed to buy Core Nutrition LLC, a maker of bottled waters and hydration drinks, in a $525mn deal.

The purchase is the latest sign that beverage companies are looking beyond sugary soft drinks.

Founded in 2015, Core Nutrition’s portfolio includes Core Hydration, a  premium, nutrient-enhanced bottled water, and Core Organic, a USDA-certified organic enhanced fruit hydration drink.

Keurig Dr Pepper says that Core Nutrition has been one of the company’s ‘allied brands’ since 2016, noting that it currently manages about two-thirds of Core Nutrition’s distribution in the US.  

SEE ALSO:

Bob Gamgort, CEO of Keurig Dr Pepper, said: "Core has been a valued and successful allied brand partner, and we are pleased that this on-trend beverage will become part of our owned KDP family of brands.  

“Our sales and distribution capabilities have helped fuel significant growth for the Core portfolio.

“Through this transaction, we intend to realize the full growth potential for the business."

Over the past three years, net sales of all Core beverages have grown at an average annualized rate of approximately 115%.

Lance Collins, founder of Core added: "We created Core to meet the increasing desires for innovative, enhanced water offerings with functional benefits for today's modern consumer.

“KDP has been an outstanding partner for Core and I am certain that, under its ownership, Core will continue to see tremendous long-term success.  

“I am a strong supporter of the KDP strategy and business model and am looking forward to being a shareholder in the company."

Share

Featured Articles

TRACT Secures £11.2M to Propel Agri-food Sustainability

Fresh investment supports TRACT in enhancing tools for sustainability in the food and agricultural sectors, aligning with EU regulations

Spain's Citrus Crisis Impacts Global Juice Market

The devastating floods in Spain have shaken up the global citrus supply, heightening challenges in the fruit juice drinks market

McDonald's: Empowering Students Through Scholarships

McDonald's has spent 40 years supporting students with scholarships & plans to continue, despite Robert F. Kennedy Jr.’s plan to Make America Healthy Again

Starbucks' new Chief Sustainability Officer: Marika McCauley

Drink

Nestlé Presents Growth Plan on its Capital Markets Day

Food

Frozen Food Logistics & the Move to -15°C Initiative

Sustainability