Purchase, N.Y., April 30 - PepsiCo today announced the acquisition of V Water, a leading vitamin water brand in the UK. V Water is a leading brand in a dynamic and growing category.
The brand was launched in 2005, and now has a range of six flavours. All products are made with spring water, and have no artificial flavours, sweeteners, colours or preservatives. The V Water range contains a number of added vitamins, minerals and herbal extracts including Vitamin C, Zinc, Selenium and Ginseng.
Garrett Quigley, General Manager, PepsiCo UK and Ireland, said: "V Water provides us with a strong platform for expansion into a fast growing market, and reflects PepsiCo's global commitment to transforming our portfolio of products and extending our range of healthier beverages. The UK is a key market for us, and we are extremely excited about developing a relationship with V Water in the UK, which will enhance and contribute to the long-term growth of the V Water brand."
PepsiCo is one of the world's largest makers and sellers of waters, sports drinks, juice and soft drinks. The acquisition of V Water in the UK will create significant opportunities, and PepsiCo is committed to investing in the V Water brand and building an exciting future for the company.
The two founders of V Water, Walter Faulstroh and Chris Coleridge, said: "V Water has positioned itself in the UK market as "The Vitamin Water" since 2005. Joining V Water's exciting brand and people to the powerful PepsiCo family will allow us to continue to expand and fulfil the full potential of V Water. We are very excited to be leading the expansion of the value-added water category in the UK."
PepsiCo also announced that it has reached an exclusive bottling agreement (EBA) with Britvic plc to manufacture, sell and distribute the V Water products in Great Britain. Britvic is PepsiCo's exclusive bottler in Great Britain for the Pepsi, 7Up and Gatorade brands. The addition of the V Water brands to the portfolio further strengthens a close and long-standing PepsiCo-Britvic relationship.
PepsiCo's transformation strategy is focused on launching and acquiring new products that reflect consumer demand for healthier, nutritious food and drink. The purchase of V Water follows PepsiCo's recent announcement of plans to acquire Russia's largest juice company, Lebedyansky, and the 2007 purchases of US-based Naked Juice and, with bottling partner Pepsi Americas, Sandora, the leading juice company in Ukraine.
PepsiCo has North America's foremost portfolio of non-carbonated beverages, and in 2007 grew its leadership positions in water, enhanced water and isotonics. Some of its hydration brands include SoBe Life Water, Aquafina Alive, Propel, Gatorade and G2.
About PepsiCo
PepsiCo is one of the world's largest food and beverage companies, with 2007 annual revenues of more than $39 billion. The company employs approximately 185,000 people worldwide, and its products are sold in approximately 200 countries. Its principal businesses include: Frito-Lay snacks, Pepsi-Cola beverages, Gatorade sports drinks, Tropicana juices and Quaker foods. The PepsiCo portfolio includes 18 brands that generate $1 billion or more each in annual retail sales. PepsiCo's commitment to sustainable growth, defined as Performance with Purpose, is focused on generating healthy financial returns while giving back to communities the company serves. This includes meeting consumer needs for a spectrum of convenient foods and beverages, reducing the company's impact on the environment through water, energy and packaging initiatives, and supporting its employees through a diverse and inclusive culture that recruits and retains world-class talent. As a member of the Dow Jones Sustainability World Index (DJSI World) and the Dow Jones Sustainability North America Index (DJSI North America), PepsiCo is a recognized leader in sustainability.
About V Water
V Water is an innovative line of water drinks that combines the benefits of hydration with the goodness of vitamins, minerals and natural herbal extracts -- all in one neat and stylish package. Founded by Walter Faulstroh and Christopher Coleridge in 2004, V Water has created a new water niche in the UK as a pioneer in the non-alcoholic beverage category through a market segmentation strategy based on consumer moods, as well as product innovation. V Water retailers include Waitrose, Ocado, Wholefoods, BP, Harvey Nichols and quality delis throughout the UK.
About Britvic
Britvic is one of the two leading branded soft drinks businesses in the UK and the Republic of Ireland. The Company is the largest supplier of still soft drinks in Great Britain, the faster growing category in the soft drinks market, and the number two supplier of carbonates. Britvic's broad portfolio of leading brands includes established names with high brand recognition such as Robinsons, Tango, J20 and Fruit Shoot. Included within the portfolio are the Pepsi and 7UP brands, which Britvic produces, markets, sells and distributes under its exclusive appointment from PepsiCo that runs until December 2023 in Great Britain and 2019 in Ireland. This brand and product portfolio enables Britvic to target and satisfy a wide range of consumer demands in all major soft drinks categories, via all available routes to market.