Dr Pepper Snapple Group Takes Minority Stake in Hydrive Energy, LLC Based on Distribution Agreement

Under terms of the agreement, DPS has been granted a minority stake in HYDRIVE and will have the opportunity to expand its position by launching in additional U.S. markets.

25/07/08 HYDRIVE Energy, LLC, maker of HYDRIVE energy drinks, announced that it has entered into an agreement with the Dr Pepper Snapple Group that provides DPS with an equity position in the company in exchange for meeting various distribution targets.  

Dr Pepper Snapple currently 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 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 LLC, said:  "Dr Pepper Snapple has been doing an outstanding job getting HYDRIVE in distribution in its markets. The brand is already sold in over 9000 accounts by DPS and the number keeps growing every day. We are looking forward to expanding into additional markets in the future.”