CEO Michele Buck calls the company's second-largest deal a "growth play" as the CPG giant expands its portfolio beyond confections into salty snacks popular with consumers.
Drinkworks, which makes beverages like White Russians and mojitos from pods, used COVID-19 to expedite its nationwide rollout, grow drink offerings and quicken the development of its new machine.
The private label food maker, which has been under pressure by activist Jana Partners, also said it may divest part of its business to focus on snacks and beverages.
Consumer demand is increasing for organic food and beverage products due to healthier perception. The innovators of organic products have more options for Transparently Delicious® taste.
The beverage, which claims to control blood sugar, coincides with a broader trend in the food and beverage space where consumers are looking for more than hydration or the easing of hunger.
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