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☆ Keurig Dr Pepper earnings meet estimates as higher prices fuel U.S. soda sales
▼ + stars: | 2024-07-25 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

In this photo illustration, cans of Dr Pepper soda are displayed on June 03, 2024 in San Anselmo, California. Keurig Dr Pepper reported quarterly earnings and revenue that met analysts' expectations on Thursday as higher prices fueled its U.S. soda sales. Excluding items, Keurig Dr Pepper earned 45 cents per share. Keurig Dr Pepper's U.S. refreshment beverages division, which includes Snapple, Canada Dry and Sunkist, reported sales growth of 3.3%. Dr Pepper also recently overtook Pepsi as the second-most consumed soda in the U.S., trailing only Coca-Cola , according to Beverage Digest.

Persons: Pepper, Dr Pepper, Dr Pepper's, Keurig Dr Pepper's Organizations: LSEG, Pepsi, Beverage Digest Locations: San Anselmo , California, Snapple, Canada, U.S

☆ A scientist who used to advise ultra-processed food companies shares 2 surprising ways they make food irresistible
▼ + stars: | 2024-07-25 | by ( Kim Schewitz | ) www.businessinsider.com time to read: +5 min

In fact, they're often specifically designed to be irresistible, a scientist who used to work with UPF companies told Business Insider. But over time, Smith said companies became more interested in enhancing food to make it irresistible to the point where people feel they can't stop eating it. That's because sonic branding, or associating a sound with a product, can make us want to consume it, Smith said. How a chocolate bar sounds when it snaps can be engineered. So, similar to sound, companies use our sense of smell to grab our attention and make us crave their products.

Persons: —, they're, Barry Smith, Ferrero, Smith, that's, you've, Coke, Mars Organizations: Service, Business, Centre, University of London

☆ Arizona Iced Tea founder explains why he's bucked the inflation trend and never raised its iconic 99-cent price in 32 years
▼ + stars: | 2024-06-27 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +1 min

The iconic 23-ounce cans of Arizona Iced Tea still sell for 99 cents after 32 years. Arizona founder Don Vultaggio told Today he doesn't want to raise prices on consumers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementDon Vultaggio, the cofounder and CEO of the company behind Arizona Iced Tea, still sells his product for the same price as when it launched 32 years ago — 99 cents. Arizona's signature big cans of iced tea were a quick success, and Vultaggio still runs the company to this day with the help of his sons.

Persons: Don Vultaggio, —, Vultaggio Organizations: Arizona Iced, Service, Arizona, Business Locations: Arizona, New York

☆ WHO says soda sweetener aspartame may cause cancer, but it's safe within limits
▼ + stars: | 2023-07-13 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

The World Health Organization on Thursday classified the soda sweetener aspartame as a possible carcinogen, but said it is safe for people to consume within the recommended daily limit. Aspartame is used in Diet Coke, Pepsi Zero Sugar and other diet sodas, as well as some chewing gum and various Snapple drinks as a substitute for sugar. More research is needed to determine whether consumption of the artificial sweetener can actually lead to cancer, she said. "Aspartame is one of the most studied food additives in the human food supply," the spokesperson said. "FDA scientists do not have safety concerns when aspartame is used under the approved conditions."

Persons: Coke, Mary Schubauer, Berigan Organizations: World Health Organization, International Agency for Research, Cancer, WHO, Pepsi, Lancet Oncology, U.S . Food, Drug Administration, FDA Locations: U.S, Europe, Diet Coke

Several consumer industry trade bodies - whose members use aspartame - on Thursday rejected the IARC’s assessment. Shoppers can find aspartame in Weight Watchers yoghurts, some Snapple drinks and Conagra’s Mrs. Butterworth’s syrups. “Aspartame has been in use as an intense sweetener for more than 30 years in the UK. In 2014 General Mills (GIS.N) swapped the aspartame in Yoplait Light for the sweetener widely known as Splenda. Sweeteners have varying levels of sweetness and price, and are different chemical compounds, making it difficult to simply swap ingredients.

Persons: Health Organization's, Garrett Nelson, Butterworth’s, ” Nelson, ” Tom Sanders, Mills, Richa Naidu, Savyata Mishra, Jessica DiNapoli, Barbara Lewis Organizations: Reuters, International Agency for Research, Cancer, Health, Joint WHO, Food, Agriculture Organization's, CFRA Research, Shoppers, Nutrition, King’s College London, PepsiCo, Thomson

[1/4] Diet Coke is seen on display at a store in New York City, U.S., June 28, 2023. Aspartame, used in products from Coca-Cola diet sodas to Mars' Extra chewing gum and some Snapple drinks, will be listed in July as "possibly carcinogenic to humans" for the first time by the International Agency for Research on Cancer (IARC), the World Health Organization's (WHO) cancer research arm, the sources said. Pepsico removed aspartame from sodas in 2015, bringing it back a year later, only to remove it again in 2020. Listing aspartame as a possible carcinogen is intended to motivate more research, said the sources close to the IARC, which will help agencies, consumers and manufacturers draw firmer conclusions. But it will also likely ignite debate once again over the IARC's role, as well as the safety of sweeteners more generally.

Persons: Coke, Shannon Stapleton, Health Organization's, JECFA, Nozomi Tomita, Zsuzsanna, Germany’s Bayer, Frances Hunt, Wood, Mars Wrigley, Kate Loatman, –, Jennifer Rigby, Richa Naidu, Michele Gershberg, Mark Potter Organizations: REUTERS, International Agency for Research, Cancer, Health, Joint WHO, Food, Agriculture Organization's, WHO, Reuters, Japan's Ministry of Health, Labour, Welfare, Food Safety Authority, U.S, International, Association, Cargill, International Council of Beverages Associations, Ramazzini Institute, EFSA, Pepsico, Thomson Locations: New York City, U.S, United States, Europe, Geneva, France, Italy, sodas

JECFA, the WHO committee on additives, is also reviewing aspartame use this year. The first group includes substances from processed meat to asbestos, which all have convincing evidence showing they cause cancer, IARC says. Like aspartame, this means there is either limited evidence they can cause cancer in humans, sufficient evidence in animals, or strong evidence about the characteristics. Pepsico removed aspartame from sodas in 2015, bringing it back a year later, only to remove it again in 2020. Listing aspartame as a possible carcinogen is intended to motivate more research, said the sources close to the IARC, which will help agencies, consumers and manufacturers draw firmer conclusions.

Persons: Coke, Shannon Stapleton, Health Organization's, JECFA, Nozomi Tomita, Zsuzsanna, Germany’s Bayer, IARC, Frances Hunt, Wood, Mars Wrigley, Kate Loatman, –, Jennifer Rigby, Richa Naidu, Michele Gershberg, Mark Potter, Susan Fenton Organizations: REUTERS, International Agency for Research, Cancer, Health, Reuters, Joint WHO, Food, Agriculture Organization's, WHO, Japan's Ministry of Health, Labour, Welfare, Food Safety Authority, U.S, International, Association, Cargill, International Council of Beverages Associations, Ramazzini Institute, EFSA, Pepsico, Thomson Locations: New York City, U.S, United States, Europe, Geneva, France, Italy, sodas

☆ Thomas H. Lee, pioneer of leveraged buyouts, is dead at 78
▼ + stars: | 2023-02-24 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Thomas H. Lee, a private equity financier who pioneered the use of leveraged buyouts that helped to reshape corporate America, has passed away, according to a notice from his former firm that still bears his name. “We are profoundly saddened by the unexpected passing of our good friend and former partner, Thomas H. Lee,” said THL in a statement. “Tom was an iconic figure in private equity. One of Thomas Lee’s most famous, and lucrative, leveraged buyouts was his purchase of Snapple for $135 million in 1992. Lee left THL in 2006 and started another private equity firm, Lee Equity Partners.

☆ Billionaire investor Thomas H. Lee dead at 78, family says
▼ + stars: | 2023-02-24 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +2 min

A family spokesperson announced Thursday that Thomas H. Lee died. NYPD told Insider a man was found dead in the office but did not confirm the identity. "The investigation remains ongoing at this time," an NYPD spokesperson wrote in an email. The investigation remains ongoing at this time," an NYPD spokesperson wrote in an email. Lee founded his namesake private equity firm, Thomas H. Lee Partners, in 1974.

In January 2023, Culver's ditched Pepsi and began promoting Coca-Cola products on its website. Coca-Cola beverages dominate restaurant chains. Up until recently, Culver's also served Pepsi beverages. But the Wisconsin-based fast-food chain, known for its butterburgers and frozen custard desserts, has ditched Pepsi for Coca-Cola products. The Culver's website now advertises that it sells about nine Coca-Cola beverages, including Diet Coke and Coke.

☆ The soda market is flat, but not for Dr Pepper
▼ + stars: | 2022-12-28 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +8 min

And recently, Dr Pepper has been gaining ground on its competitors, even as the overall soda market goes flat. “One of the bright spots … has been Dr Pepper.”Founded in 1885 in Waco, Texas, Dr Pepper was the first in a wave of 19th-century upstart soda companies. Courtesy Keurig Dr PepperToday, Dr Pepper advertises itself as a treat, using a pint-sized mascot called Lil’ Sweet in its commercials. After Dr Pepper established itself as an alternative to mainstream colas, it launched on a path that ultimately made it part of the country’s third-largest soft drink maker, Keurig Dr Pepper. Dr Pepper hits the sceneDuring the wave of mega-mergers in the 1980s, Coca-Cola tried to scoop up Dr Pepper.

☆ Keurig Dr Pepper CEO resigns after violating company's code of conduct
▼ + stars: | 2022-11-10 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Keurig Dr Pepper announced Thursday that CEO Ozan Dokmecioglu agreed to resign after violating the company's code of conduct, less than four months into the job. Keurig Dr Pepper's board reappointed Bob Gamgort, chairman and former CEO, as chief executive. Keurig Dr Pepper's stock has risen 3% this year, increasing its market value to $54.4 billion. Prior to becoming CEO, Dokmecioglu served as chief financial officer for the company, helping Keurig Green Mountain go private in 2016 and with its merger with Dr Pepper Snapple in 2018. Its subsidiary Maple Holdings still holds a 33% stake in Keurig Dr Pepper.

☆ Meet Byron Trott, the billionaire businessman behind Michael Dell's new investment and advisory firm
▼ + stars: | 2022-10-20 | by ( Graham Rapier | ) www.businessinsider.com time to read: +2 min

Michael Dell's family office is merging with merchant bank BDT to form a new investment and advisory firm. Back in 2008, when he was still working at Goldman Sachs, Trott was publicly praised by Warren Buffett, whose distaste for M&A bankers — and Goldman Sachs — is notorious on Wall Street. "Byron is the rare investment banker who puts himself in his client's shoes," Buffett said in a letter to investors. The combination, the companies said on Thursday, "will create the preeminent advisory and investment firm serving the distinct needs of family- and founder-led business owners and strategic, long-term investors." Here's how Trott, a Midwest native, went from a small-town football player to an investment banker advising billionaires:

☆ The surprising backstory of AriZona Iced Tea’s name
▼ + stars: | 2022-08-27 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

So he settled on “Santa Fe” for the name of the drink. “Having a name associated with a lifestyle, which is an environment and climate that made you want to grab a refreshing iced tea. That’s why the name seemed to make sense to me.”AriZona was almost called Santa Fe. The “Snapple Lady” commercials turned the juice and iced tea company into a huge success, as sales boomed throughout the 90s. Having had his own success with a malt liquor business, Vultaggio and his partners pivoted to selling iced tea in the same-sized 23-ounce cans as their malt liquor.

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