The world’s largest brewer Anheuser Busch InBev said on Thursday it was acquiring Hiball, a San Francisco-based producer of energy drinks and owner of the Alta Palla brand of organic sparkling juices and sparkling waters.
The acquisition marks another step into the non-alcoholic drinks sector for the company, which already produces the ready-to-drink tea Teavana in partnership with Starbucks.
AB InBev said in May it planned to invest $2 billion in the United States through 2020 into both breweries and soft drinks.
“Hiball’s products target some of the most important trends in the beverage space today, including health and wellness,” the company said in a statement.
AB InBev said it planned a phased transition of the Hiball Energy and Alta Palla brands to its wholesaler partners.
The transaction, the terms of which were not disclosed, is expected to close in the third quarter.
By Alan Charlish
Source: Reuters
Consumer behaviors and preferences are evolving rapidly. With macro shifts in society, inflation and food supply challenges set to profoundly influence how people consume food and beverages, Givaudan is exploring what the world of dairy alternatives will look like in the coming decade.
After nearly three decades with AFI, Andersen is leaving to pursue a different career path “to work on diverse projects and explore opportunities to serve as board member”. Serving as CEO since 2010, Andersen joined AFI in 1994, initially overseeing applications and R&D. Over the years, he has maintained a strong focus on the whey business.
The Kraft Heinz Company has introduced five new members to its executive leadership team, who will collaborate with Carlos Abrams-Rivera upon assuming the CEO role in 2024. Pedro Navio will assume the position of North America president at the beginning of next year. In addition, Willem Brandt, Bruno Keller, Cory Onell and Diana Frost will join Abrams-Rivera and Navio on the executive leadership team.