Plano based Dr Pepper Snapple Group will pay $1.7 billion for Bai Brands – a fruity drink maker that counts pop star Justin Timberlake as an investor.
It said Tuesday that Bai will help the company expand into the low-calorie beverage market. Bai markets its drinks as having 5 calories, antioxidants and no artificial sweeteners. Dr Pepper Snapple’s brands include its namesake Dr Pepper soda, A&W root beer and Canada Dry ginger ale.
Bai announced in October that Timberlake was an investor, however did not provide any financial details.
Dr Pepper Snapple Group Inc. expects Bai to generate about $425 million in sales next year.
Bai is based in Hamilton, New Jersey, and the deal is expected to close early next year.
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