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Keurig Dr Pepper Enters Agreement To Acquire Core Nutrition LLC

PLANO, TX -- Keurig Dr Pepper has announced its entry into a definitive agreement to acquire Core Nutrition LLC. Core produces Core Hydration, a premium, nutrient-enhanced bottled water, and Core Organic, a USDA-certified organic enhanced fruit hydration. Both currently are distributed by KDP, of which Core has been an allied brand since 2016. Core was founded in 2015, and has been a KDP allied brand since 2016. KDP presently manages about two-thirds of Core's U.S. distribution. The company reports that ...

September 30, 2018

PLANO, TX -- Keurig Dr Pepper has announced its entry into a definitive agreement to acquire Core Nutrition LLC. Core produces Core Hydration, a premium, nutrient-enhanced bottled water, and Core Organic, a USDA-certified organic enhanced fruit hydration. Both currently are distributed by KDP, of which Core has been an allied brand since 2016.

Core was founded in 2015, and has been a KDP allied brand since 2016. KDP presently manages about two-thirds of Core's U.S. distribution. The company reports that net sales of all Core beverages have grown at an average annualized rate of about 115% over the past three years, with current retail sales estimated in excess of $200 million over the latest 52 weeks.

"Core has been a valued and successful allied brand partner, and we are pleased that this on-trend beverage will become part of our owned KDP family of brands." said KDP chief executive Bob Gamgort. "Our sales and distribution capabilities have helped fuel significant growth for the Core portfolio. Through this transaction we intend to realize the full growth potential for the business."

Following the acquisition's closing, both Core Hydration and Core Organic will continue to be distributed primarily through KDP's company-owned direct store delivery network and independent distributor network, while certain select existing Core Nutrition distribution partners are expected to maintain their channel coverage.

The transaction is expected to close by the end of 2018.