PepsiCo completes SoBe acquisition

PepsiCo, Inc. has completed the acquisition of a majority stake in South Beach Beverage Co., maker of the SoBe brand. SoBe will continue to operate as a separate unit led by cofounder John Bello but the unit will now report into PepsiCo through Pepsi-Cola North America president and CEO Gary Rodkin. Terms of the transaction were not disclosed.

"SoBe is a great fit within pepsiCo's total bevergae portfolio and a terrific complement to ourn innovation platform," said Rodkin. "We'll be providing SoBe with the resources and expansion opportunities they need to grow, while sustaining their uniquely creative, entreprenurial culture."

The SoBe brand lineup includes a wide range of fruit blends, energy drinks, dairy-based drinks, exotic teas, and sports drinks.

Edited by Christine Eadeh,
Assistant Editor, Food Ingredients Online