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Snapple Beverage Company
Snapple Beverage Company started in 1972 as Unadulterated Food Corporation, which was founded by three New York City friends Leonard March, Hyman Golden and Arnold Greenberg. The company's first beverage was Snappy-apple, a carbonated apple juice. The name was later shortened to Snapple, which ultimately became the company's new name. Snapple was a company that did not follow traditional product and marketing rules. The three founding friends believed in a philosophy of following their instincts and taking risks, knowing that there would be some failures along the way. Today, Snapple continues to follow this philosophy with their creative flavor combinations and quirky marketing campaigns which has helped to make Snapple beverages a major player in today's beverage market. Snapple also believes in keeping their customers closely involved in the evolution of their product line so that they are producing products and flavor combinations that customers want.
In April of 1992, the original owners sold to Thomas H. Lee and Company, a Boston investment firm, who then took the company public. Within three months following the initial public offering, Snapple's stock value tripled. In December of 1994, Snapple Beverage Corporation was purchased by Quaker Oats Company for $1.7 billion. Thomas H. Lee and Company paid $135 million in 1992. Snapple had some setbacks while owned by Quaker Oats due to poor product positioning that focused on grocery stores instead of vending machines and convenience stores that had proven very successful in the past. It was found that Snapple was not a beverage that consumers planned ahead for consumption. Snapple is a product that is purchased on the go at the time for immediate consumption. Quaker Oats sold Snapple in May of 1997 to Triarc Beverage Group. Triarc helped bring Snapple back by refocusing the positioning of the product back to smaller outlets and revitalizing the...
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