Dr Pepper Snapple Group announced that it has reached an agreement with Mondelez International, Inc. to reacquire the distribution rights for Snapple and several other non-carbonated beverage brands in parts of Asia-Pacific.
The company will have the rights to distribute Snapple in Australia, Malaysia, Singapore, China, Hong Kong, Japan and South Korea. In Australia, the company also will have distribution rights for Mott’s, Mr & Mrs T, Clamato, Mistic, Holland House and Yoo-hoo.
“This agreement enables us to explore opportunities for expanding the presence of Snapple and other non-carbonated brands in an important region of the world,” said Jim Johnston, president – beverage concentrates and Latin America beverages, in a prepared statement. “Obtaining the distribution rights to Snapple and other brands in Asia-Pacific gives us a foothold in a growing market that we can tap for future development over time.”
Terms of the agreement were not disclosed. The company said it does not anticipate that the acquisition will have any material effect on its 2013 financial results.