Sector News

AB Inbev to buy soft drinks firm Hiball

July 21, 2017
Food & Drink

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

 

comments closed

Related News

September 25, 2022

Coca-Cola names new president of global ventures

Food & Drink

The Coca-Cola Co. has promoted Evguenia (Jeny) Stoichkova to president of global ventures, effective Jan. 1, 2023. Ms. Stoichkova joined Coca-Cola Bulgaria in 2004 and was most recently the president of the company’s Eurasia & Middle East division, a role she has held since 2021.

September 25, 2022

Perfect Day allies with Onego Bio to speed-up launch of animal-free eggs

Food & Drink

US-based Perfect Day, is partnering with Onego Bio, which specializes in creating animal-free eggs, aiming to accelerate the timeline to bring the eggs to the market. The business, with the use of its technology, plans to commercialize animal-free ovalbumin, the most abundant egg white protein extracted through precision fermentation.

September 25, 2022

EU fails on food waste: Report reveals bloc discards more than it imports

Food & Drink

Food waste costs the EU €143 billion per year (US$141.7 billion), with a report by Feedback EU raising the alarm of how it’s vital to reduce waste from farm to fork 50% by 2030 and the only way this will be achieved is by enforcing a mandatory directive forcing the food industry to do better and retailers to pay a tax of food waste.