The sale, orchestrated by Gary Smith (Big Red) and Mike Weinstein (HYDRIVE), will be effective immediately and adds HYDRIVE Energy drinks to the Big Red portfolio which includes, All Sport isotonic, NuGrape, Thomas Kemper, Nesbitt’s and other beverage lines.
“The addition of HYDRIVE Energy is an important part of our growth strategy,” said Gary Smith, CEO of Big Red, Inc. “We believe the brand has excellent opportunities for growth and development.”
“We recognize the work that Mike Weinstein, Brian O’Byrne and Leo Novosel have done to build this brand,” added Smith. “They will continue to play an important role in maximizing the potential for HYDRIVE.”
Since its introduction in 2006, HYDRIVE has grown rapidly and is recognized for its unique point of difference… a light refreshing taste and 30 calories per bottle. It is available in convenience and retail stores all across the country.
About Big Red, Inc.
Big Red, Inc. is one of the top 10 beverage companies in North America with a history dating back to 1937. Along with Big Red, recognized as the No. 1 selling red soda, Big Red, Inc. also markets beverage brands All Sport, NuGrape, Nesbitt’s, Thomas Kemper, Big Red Jak Energy, GPure Energy, VIB, and SANS Soda. The company’s products are distributed widely throughout the Dr Pepper Snapple Group and Pepsi Beverages Company, as well as other independent bottlers and wholesalers.
About HYDRIVE Energy
HYDRIVE ENERGY LLC was founded in 2006 by beverage executives Mike Weinstein (former CEO Snapple Beverages) and Brian O’Byrne (former CEO Yoo-hoo/Orangina). The company is headquartered in Rye, N.Y., and is focused on bringing healthier energy drinks to market. HYDRIVE products are primarily distributed by Dr Pepper Snapple Group [NYSE:DPS] and Polar Beverages, both of whom have a minority interest in the brand.
