by Christopher Freeburn | February 27, 2013 11:48 am
A number of Ocean Spray’s popular flavors will soon be available to SodaStream (NASDAQ:SODA) home carbonated soda-makers.
In a statement, the two companies said that SodaStream will license various Ocean Spray juice blends, including regular and diet versions of Cranberry, Cranberry-Grape and Cranberry-Raspberry. The syrup flavors for use in SodaStream machines were projected to hit North American store shelves during the second half of the year.
No financial terms of the deal were revealed.
More than 30% of Ocean Spray Cranberry juice consumers prefer to mix the juice with sparkling water, creating a home-made carbonated version of the drink.
Formed more than 80 years ago, Ocean Spray is a cooperative of 700 cranberry and grapefruit growers in six U.S. states, Chile and Canada. Last year it generated sales of $2.2 billion.
Last year, SodaStream partnered with Kraft Foods (NASDAQ:KFT) to add Kool-Aid flavors to its soda-syrup portfolio.
Shares of SodaStream rose almost 2% in Wednesday morning trading.
Source URL: https://investorplace.com/2013/02/sodastream-teams-up-with-ocean-spray-for-new-juice-blends/
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