Deals
Dr Pepper Snapple Agrees to Buy Bai Brands for $1.7 Billion
- Acquisition is meant to appeal to health-focused consumers
- Closely held Bai projects $425 million in sales next year
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Dr Pepper Snapple Group agreed to acquire Bai Brands for $1.7 billion, snapping up a maker of fruit-flavored, antioxidant-infused beverages in a bid to attract health-focused consumers.
The acquisition, expected to close in the first quarter of next year, will decrease earnings per share by 3 cents in 2017 and add to profit in 2018, Dr Pepper Snapple said Tuesday in a statement.