Boo Koo Experience

Energy drink firm changes name, adds industry vets to board

Published in CSP Daily News

ADDISON, Texas -- Boo Koo Holdings Inc. has announced that, subject to shareholder approval, it plans to change its name to Performing Brands Inc., reflecting its objective to transition from an energy beverage maker to a broader-based consumer beverage company focused on health, wellness and functional benefit beverages. The company also announced that it has appointed three leading beverage industry executives to its board.

The company has appointed Gil Cassagne, formerly CEO of Cadbury Schweppes Americas Beverages; Jack Belsito, formerly president of Snapple Distributors Inc.; and Joe [image-nocss] Bayern, formerly chief strategy officer of Cadbury Schweppes Americas Beverages, to its board. The executives will also assume the role of consultants, advising the company on business opportunities.

"We are excited to attract such experienced and accomplished beverage executives to Boo Koo as we refocus and rebrand the company," said Steven B. Solomon, the company's chairman. "Each has played an instrumental role in building highly successful and admired beverage companies. We look forward to utilizing their expertise as we grow the company."

Cassagne has more than 30 years of experience in the consumer products industry and more than 20 years in the beverage industry with companies such as Procter & Gamble, The Dr Pepper Co. and Cadbury Schweppes Americas Beverages. He most recently held the position of CEO of Cadbury Schweppes Americas Beverages, a division of Cadbury Schweppes where he also served as part of the executive board. Cassagne has held numerous other positions within Cadbury including regional president of Asia Pacific and president of Motts.

Belsito has more than 25 years of experience in the consumer products industry and more than 20 years in beverages with companies such as Procter & Gamble, Pepsi, Snapple and Cadbury Schweppes Americas Beverages. He most recently held the position of president, Snapple Distributors, for Cadbury Schweppes Americas Beverages, where he also served as part of the executive board. Prior to his current position, Belsito held positions of CEO of the Snapple Beverage Group and president of RC Cola. He has extensive experience in the beverage industry holding senior positions in franchising, marketing, sales, business development and M&A. He has led the acquisitions of both branded companies and bottling and distribution companies.

Bayern has more than 10 years of experience in the consumer products industry and more than 10 years in the consulting industry. He most recently held the position of chief strategy officer of Cadbury Schweppes Americas Beverages where he also served as part of the executive board. Prior to his current position, Bayern served as the director of global strategy of Cadbury Schweppes in London. Prior to joining Cadbury, he worked at Snapple Beverage Group, where he held a variety of positions including Senior vice president of operations, chief information officer and chief strategy officer.

Addison, Texas-based Boo Koo currently develops, produces, markets and distributes alternative beverage category energy drinks under the Boo Koo and Gazzu brand names. Boo Koo currently sells and distributes its products in parts of the United States and Canada through its network of regional bottlers and other direct store delivery distributors, including independent Coca-Cola, Cadbury Schweppes and other wholesale distributors. Gazzu is sold exclusively to Circle K. Boo Koo's products are sold primarily to mainstream convenience and grocery store chains, drug stores, gas stations and other retail outlets.

Keywords: 
M&A