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Soda, the maker of cult-favourite soft drinks has entered into a
Letter of Intent with its rival, Reed’s, to be acquired
for a deal worth approximately $10 million. Jones shareholders will
receive 4.5 million shares of Reed’s common stock and cash of 0.10 per
share, worth about $2.6 million.
Around for 22 years, Jones Soda was profitable for most of its history.
By 2007 Jones was struggling due to its failed expansion efforts which
came around the time as the economy started experiencing difficulties
and the soda maker was seeing a shrinkage in sales.
Jones Soda posted a loss of $1.5 million in the quarter ending September
30th, 2009, ending the quarter with $6 million in cash, down
from $11.7 million it had nine months earlier.
Shares of Jones Soda traded the day in a range of 0.48 to 0.73, down
6.90%, closing at 0.54.
Reed’s Inc. (NASDAQ: REED), traded between 1.58 and 1.85, closing
down 2.79% to 1.74. Reed announced
that it has established a working relationship with Associated Wholesale
Grocers. Associated Wholesale Grocers has authorized six SKUs for the
Reed's Ginger Brew line and six SKUs for Virgil's Soda line. Associated
Wholesale Grocers is a retailer-owned cooperative which serves over 1900
retail member stores and 600 affiliates stores. Reed’s Inc. makes sodas
for the natural food markets in the U.S.
Cott Corporation (NYSE: COT) shares of COT traded the day between
6.81 and 7.13, up 3.48% at 7.14. COT hit a 52 week-high last November at
9.39. COT announced
its fourth quarter and fiscal year 2009 results, citing a revenue
decline for the 2009 fiscal year of 3.1% to $1.6 billion; gross margin
as a percentage of sales increased to 15.6% from 11.0%; operating income
increased to $97.4 million from a loss of $113.0 million. For the fourth
quarter of 2009 revenue increased 3.9% to $386 million, operating income
increased to $13.9 million from a loss of $15.6 million. Cott
Corporation is a non-alcoholic beverage company operating facilities
in the United States, Canada, the United Kingdom and Mexico. Cott
markets its non-alcoholic beverage concentrates in over 50 countries
around the world.
Celsius Holdings, Inc. (NASDAQ: CELH), traded in the range of
2.93 and 3.20, up 7.38% closing at 3.20. Shares of CELH hit a 52
week-high of 14.00 back in July 2009. Celsius Holdings announced
that it has converted its common stock, around $5.1 million of its
convertible debt and the remaining preferred shares. CDS Ventures LLC
has agreed to convert $4.5 million of the $6.5 million outstanding
balance of its convertible debt to common stock. Celsius Holdings is
focused to providing healthier, everyday refreshment through science and
Dr. Pepper Snapple Group Inc. (NYSE: DPS), is a manufacturer and
distributor of non-alcoholic beverages in the United States, Canada,
Mexico and Caribbean with a portfolio of flavoured carbonated and
non-carbonated beverages of brands such as Dr. Pepper, Sunkist soda,
7UP, A&W, Canada Dry, Crush, Squirt, Penafiel, Schweppes and Venom
Energy, Snapple, Mott’s, Hawaiian Punch, Clamato, Rose’s and Mr & Mrs T
mixers. Dr. Pepper Snapple Group announced
that it has completed the licensing of certain brands to PepsiCo, Inc.
Under the transaction DPS received a one-time cash payment of $900
million before taxes and other related fees and expenses. Portion of the
proceeds were used to reduce its total debt obligations to $2.55
billion, in-line with its target capital structure of approximately 2.25
times total debt to EBITDA after certain adjustments. Shares of DPS
traded in the range of 33.25 to 33.85, up 0.54% to 33.65.
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