SodaStream International Ltd. announced a strategic license deal with Ocean Spray Cranberries Inc. to license a portfolio of juice blend concentrates co-developed exclusively for the SodaStream home beverage carbonation system for undisclosed terms. With more than 30 percent of Ocean Spray Cranberry juice drinkers mixing their juice with sparkling water at home, the partnership builds on an already familiar consumer behavior. (iStockAnalyst)
Entertainment powerhouse Sean "Diddy" Combs and actor/producer Mark Wahlberg today announced a joint venture with Southern California-based fitness and wellness water brand, AQUAhydrate. Per the arrangement, Combs and Wahlberg will oversee business strategy along with CEO John Cochran, formerly president of Fiji Water. Together they will help drive the AQUAhydrate vision and be instrumental in helping secure retail partnerships for the water brand, such as their recently signed deals with Safeway, Kroger and GNC.
Molson Coors Brewing Co. and SABMiller PLC, two of the world's largest brewers, are fighting over the terms of a licensing agreement in Canada the latter company is aiming to terminate this summer. SABMiller is planning to end a licensing pact in July that gave Molson the exclusive rights to distribute its products in Canada. Though Miller brands make up only a small percentage of Molson's Canadian sales, SABMiller believes there are opportunities for the brands to perform￼ better in that market. (NASDAQ)
Monster Beverage Corp. said Wednesday its net income rose 5 percent in the fourth quarter as it expanded energy drink sales into new markets. The company said it is selling its drinks in new international markets. While growth in energy drink sales in the U.S. has slowed down, sales of Monster Energy drinks are growing at a faster pace than those of competing drinks. (AP via Bloomberg BusinessWeek)
PepsiCo Inc. shelved plans to build a $140 million drinks plant in Russia after acquiring local dairy and juice producer OAO Wimm-Bill-Dann Foods in 2011, the company said today in an e-mailed statement. The company announced it would build the plant in Rostov region, southern Russia, in 2010. (Bloomberg)
The Milwaukee Brewers baseball team has renewed its longstanding sponsorship agreement with brewing giant MillerCoors. The renewal, which is separate from the two parties’ naming rights agreement for Miller Park, ensures that Miller Lite will remain the MLB side’s exclusive beer sponsor for the foreseeable future. As part of the new deal, a new Miller Lite Party Deck, a 70-seat deck built above the right field loge bleachers at Miller Park, will open at the start of the 2013 season. (SportsPro Media)