Keurig Dr Pepper announced agreements to buy back territory from Red River Beverage Group and the Maid-Rite Company. Together, the territories include 37 counties in east Texas and northern Louisiana that cover about 1.5 million consumers. KDP will take over production, sales and distribution for owned and licensed brands, including Canada Dry, A&W root beer, 7Up, Sunkist, Snapple teas, Core Hydration, and Bai. Dr Pepper is included in seven counties. The brands will all move into KDP’s direct store delivery system in February of next year. KDP Cold Beverages President Derek Hopkins said the deals are part of an effort to ensure the company’s brands have a “competitive route-to-market” in every area they are sold. KDP already manages its brands in adjacent counties to the acquired territories. The acquisitions are among a string of deals by KDP, since the merger of Keurig Green Mountain and Dr Pepper Snapple in 2018, to optimize the company’s US route to market for its key beverage brands.
PLUS. HumanCo and Cavu Venture Partners have filed with the US SEC for a special purpose acquisition company called HumanCo Acquisition that will focus on the health and wellness sector; the entity will look to raise $225 million in an initial public offering, according to a filing; Cavu was co-founded by former Coca-Cola and Vitaminwater marketer Rohan Oza ... Wendy’s and Pizza Hut franchisee NPC International, which is under Chapter 11 bankruptcy protection, has agreed to sell itself to Flynn Restaurant Group in a deal that is likely still to draw more bidders, according to the Wall Street Journal ... Illycaffe, a former Coca-Cola ready-to-drink coffee partner in the US, has agreed to sell a minority stake to US private equity firm Rhone Capital for a reported $237 million ... Functional cherry juice maker Cheribundi has closed a $15 million funding round led by Emil Capital Partners ... Powdered electrolyte beverage Cure Hydration, founded by a former Jet.com marketer, said it has raised $2.6 million in seed funding.
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