ADDISON, Texas -- Boo Koo Holdings Inc. has named Jack Belsito, formerly president of Snapple Distributors Inc., as chairman. In addition, Belsito will assume the CEO's position during the 2008 fourth quarter. Joe Bayern, formerly Chief Strategy Officer of Cadbury Schweppes Americas Beverages and currently a consultant to Boo Koo, will become president in September. Belsito replaces Gil Cassagne as Chairman. Cassagne will remain a director.
Belsito has more than 25 years of experience in the consumer products industry and more than 20 years in beverages with companies such as Procter &[image-nocss] amp; Gamble, Pepsi, Snapple and Cadbury Schweppes Americas Beverages. He most recently held the position of president of Snapple Distributors Inc., for Cadbury Schweppes Americas Beverages where he also served as part of the executive board. Prior to his current position, Belsito held positions of CEO of the Snapple Beverage Group and the President of RC Cola. Belsito has extensive experience in the beverage industry holding senior positions in franchising, marketing, sales, business development and mergers and acquisitions. He has led the acquisitions of both branded companies and bottling and distribution companies.
Boo Koo recently disclosed plans to change its name to Performing Brands Inc. "I am excited to be taking on the additional responsibilities of chairman at a time when the company has unprecedented opportunities for growth," said Belsito. "We have a unique opportunity to build a leading consumer beverage company focused on health, wellness and functional benefit beverages."
Bayern has more than 10 years of experience in the consumer products industry and more than 10 years in the consulting industry. He most recently held the position of Chief Strategy Officer of Cadbury Schweppes Americas Beverages, where he also served as part of the executive board. Prior to his current position, Bayern served as the director of global strategy of Cadbury Schweppes in London. Prior to joining Cadbury, he worked at Snapple Beverage Group where he held a variety of positions including senior vice president of operations, Chief Information Officer and Chief Strategy Officer.
"I look forward to helping build a leading consumer beverage company," added Bayern. "The opportunities in the health, wellness and functional beverage space have never been greater, and the experience that the management team has in building other brands positions it well to become a leader in this category."
Cassagne said, "I am pleased to welcome such experienced operators to key management positions at a time when the company is positioning itself for both organic growth and acquisitions. I have first-hand experience, from working with Jack and Joe, in developing other successful beverage brands and I look forward to supporting them as a director as they lead the company through its next phase of growth."
Addison, Texas-based Boo Koo currently develops, produces, markets and distributes alternative beverage category energy drinks under the Boo Koo and Gazzu brand names. Boo Koo currently sells and distributes its products in parts of the United States and Canada through its network of regional bottlers and other direct store delivery distributors, including independent Coca-Cola, Cadbury Schweppes and other wholesale distributors. Gazzu is sold exclusively to Circle K. Boo Koo's products are sold primarily to mainstream convenience and grocery store chains, drug stores, gas stations and other retail outlets. The company's objective is to transition from an energy beverage maker to a broader-based consumer beverage company focused on health, wellness and functional benefit beverages.
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