Beverage companies are racing to find the next “it” drink
PepsiCo is preparing to sell Tropicana and other juices to a private equity firm for $3.3 billion. Molson Coors is going to phase out 11 of its “economy” brands. Increasingly, beverage companies are looking for the next trendy drink of choice — which means ditching investments in sugary drinks and frat party favorites in favor of seltzer, kombucha and prebiotic soda. We also discuss the very slow recovery of business travel, how California’s drought could translate into higher costs for tomato products and how businesses decide to increase prices.
