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

By Laura Mullan
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

Unilever: Gen Z Tastes Driving Culinary Innovation

Unilever Food Solutions Future Menu Trends reports shows adventurous Gen Z tastes are shaping menus and that plant protein use is on the rise

Nestlé & Cargill Combine to Cut Cocoa Carbon Emissions

Nestlé has joined forces with key supplier Cargill to regenerate land around cocoa farms and cut carbon emissions in its su

Unilever to Sell off Ice Cream, With Loss of 7.5K Jobs

Unilever to sell its successful Ice Cream division, as it rationalises operations around Beauty & Wellbeing, Personal Care and Home Care & Nutrition

Nestlé Cuts 2023 GHGs by 13.5% as it Targets Supply Chain

Food

PepsiCo boost for Hispanic-owned Food & Beverage Start-ups

Food

Top 10 customer experience (CX) trends in 2023

Retail