PLANO, Texas Dr Pepper Snapple Group and Hydrive Energy, LLC, have announced an agreement for Dr Pepper Snapple to take over a percentage of the ownership of Hydrive Energy drinks, the companies told the media Friday. The agreement gives DPS a holding of a little less than 25 percent of Hydrive Energy’s business.
DPS’ president and chief executive officer, Larry Young, said that his company is pleased to be working with industry veterans at Hydrive. He also said that Hydrive was in a good position to lead the enhanced water and energy drink categories and that DPS has come aboard in order to expand its portfolio in those fast-growing categories.
Dr Pepper Snapple currently distributes Hydrive low-calorie, energy drink, in Midwestern and East Coast markets including Illinois, Indiana, Minnesota, Nebraska, New Jersey, New York and Wisconsin.
Dr Pepper has also recently unveiled a $35 million marketing campaign featuring former Philadelphia 76ers basketball star Dr. J (Julius Erving) and actor Kelsey Grammer that urges people to drink the beverage slowly.