PLANO, Texas Dr Pepper plans on declaring independence from its parent company, Cadbury Schweppes, once a buy-back is cemented next week. A new company called Dr Pepper Snapple, which has been in planning stages since March of last year, is slated to emerge from the split.
“By having the core research and development capability at our headquarters, we expect to be able to move more rapidly and reliably from prototype to full commercialization,” the company said in a statement filed Monday with the Securities and Exchange Commission.
Company spokesman, Greg Artkop, said that a research facility is currently being built in Plano and should be in operation by this summer.
As soon as the separation is completed, Dr Pepper Snapple will control business for 7UP, Motts juices, Snapple, Sunkist orange and Dr Pepper in Canadian, Caribbean, Mexican and U.S. markets.