PepsiCo Takes V Water
Garrett Quigley, general manager, PepsiCo UK and Ireland, said, "V Water provides us with a strong platform for expansion into a fast-growing market, and reflects PepsiCo's global commitment to transforming our portfolio of products and extending our range of healthier beverages. The U.K. is a key market for us, and we are extremely excited about developing a relationship with V Water in the U.K., which will enhance and contribute to the long-term growth of the V Water brand."
Per a PepsiCo press release, the acquisition of V Water in the U.K. will create significant opportunities, and the company "is committed to investing in the V Water brand and building an exciting future for the company."
The two founders of V Water, Walter Faulstroh and Chris Coleridge, said, "V Water has positioned itself in the UK market as "The Vitamin Water" since 2005. Joining V Water's exciting brand and people to the powerful PepsiCo family will allow us to continue to expand and fulfill the full potential of V Water. We are very excited to be leading the expansion of the value-added water category in the United Kingdom."
PepsiCo also announced that it has reached an exclusive bottling agreement (EBA) with Britvic plc to manufacture, sell and distribute the V Water products in Great Britain. Britvic is PepsiCo's exclusive bottler in Great Britain for the Pepsi, 7Up and Gatorade brands. The addition of the V Water brands to the portfolio further strengthens a close and long-standing PepsiCo-Britvic relationship.
PepsiCo's transformation strategy is focused on launching and acquiring new products that reflect consumer demand for healthier, nutritious food and drink. The purchase of V Water follows PepsiCo's recent announcement of plans to acquire Russia's largest juice company, Lebedyansky, and the 2007 purchases of U.S.-based Naked Juice and, with bottling partner Pepsi Americas, Sandora, the leading juice company in Ukraine.
From the May 12, 2008, Prepared Foods e-Flash