Dr Pepper Snapple Group Inc. (NYSE: DPS) has agreed to purchase the majority stake it did not already own in Bai Brands LLC, antioxidant beverage company, in a deal valued at $1.7 billion in cash. The deal is expected to grow the buyer’s "better-for-you" beverage products.
Bai manufacturers healthy, "all-natural" drinks in cans and bottles. The Princeton, New Jersey-based target makes carbonated water, low-calorie juice and tea in an assortment of flavors including: congo apple pear, kula watermelon, Tanzania lemonade tea, Andes coconut lime, and Ipanema pomegranate. As part of the deal, Bai will operate within the DPS’ packaged beverages division and will continue to be led by founder Ben Weiss.