RYE, N.Y. -- Hydrive Energy LLC, maker of Hydrive energy drinks, said that it has entered into an agreement with the Dr Pepper Snapple Group Inc. that provides DPS with an equity position in the company in exchange for meeting various distribution targets. DPS is distributing Hydrive, a low-calorie, enhanced water energy drink, in a number of its Midwest and East Coast markets including New York, New Jersey, Illinois, Wisconsin, Minnesota, Indiana, Kansas, Nebraska, Missouri and Iowa. Under terms of the agreement, DPS has been granted a minority stake in Hydrive and will have the opportunity [image-nocss] to expand its position by launching in additional U.S. markets.
"We are very pleased to be working again with two well-respected beverage veterans, Mike Weinstein and Brian O'Byrne, on their latest beverage innovation," said Larry Young, president and CEO of DPS. "Hydrive energy drinks are uniquely positioned to take advantage of growth in the two fastest-growing beverage categories, enhanced water and energy. The opportunity to participate at an early stage in the growth and success of such emerging beverage ventures is very exciting for us and part of our overall portfolio strategy."
Brian O'Byrne, CEO of Hydrive, said: "Dr Pepper Snapple has been doing an outstanding job getting Hydrive in distribution in its markets. The brand is already sold in over 9,000 accounts by DPS and the number keeps growing every day. We are looking forward to expanding into additional markets in the future."
Plano, Texas-based DPS is an integrated refreshment beverage business marketing more than 50 beverage brands to consumers throughout North America. In addition to its flagship Dr Pepper and Snapple brands, the company's portfolio includes 7UP, Mott's, A&W, Sunkist Soda, Hawaiian Punch, Canada Dry, Schweppes, Squirt, RC Cola, Diet Rite, Penafiel, Rose's, Yoo-hoo, Clamato, Mr & Mrs T and others.
Hydrive Energy was founded in 2006 by beverage executives Weinstein (former CEO Snapple Beverages and president of A&W Brands) and O'Byrne (former CEO Yoo-hoo/Orangina). The Rye, N.Y.-based company markets a line of enhanced water energy drinks in 15.5-oz. resealable bottles. All Hydrive products are positioned to consumers seeking a healthier energy beverage because they are low in calories and sugar and are fortified with vitamins, electrolytes and antioxidants. Hydrive is currently available in more than 12,000 accounts in 21 states.
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