DOW JONES NEWSWIRES
Pepsi Bottling Group Inc. (PBG) has signed an agreement to
distribute O.N.E. beverages in southern California and south
Florida starting in the fourth quarter.
At the same time, Pepsi Bottling and private-equity firm
Catterton Partners invested an undisclosed amount in O.N.E., which
was established in 2005 by a Brazilian entrepreneur, who launched
its O.N.E. Coconut Water a year later.
"This agreement with O.N.E. gives us access to a strong brand
with attractive growth potential in the emerging coconut water
segment," said Pepsi Bottling executive Rob King.
The company, which is PepsiCo Inc.'s (PEP) biggest bottler, is
in the process of being acquired by the beverage and snack-food
giant. The O.N.E. deal comes as privately held coconut-water maker
ZICO recently said it raised $15 million from a number of
investors, including Coca-Cola Co. (KO).
Coconut-water brands have been attracting more attention from
the big beverage companies looking for healthy drink offerings.
Pepsi recently agreed to buy Amacoco, Brazil's largest
coconut-water company.
-By Joan Magee, Dow Jones Newswires; 212-416-2673;
joan.magee@dowjones.com