PepsiCo announces ‘Net Water Positive’ commitment

PepsiCo Inc., Purchase, N.Y., announced its ambition to become "Net Water Positive" by 2030, aiming to replenish more water than the company uses, which would place it among the most water-efficient food or beverage manufacturers operating in high-risk watersheds.

With safe water access a critical component of the holistic water stewardship agenda, the PepsiCo Foundation also is launching a new $1 million program with leading non-government organization and long-term partner, WaterAid to bring safe water to families in Sub-Saharan Africa ― expanding its 15-year, more than $53 million safe water access initiative that reaches more than 20 countries and has helped more than 59 million people since 2006, it says.

“Time is running out for the world to act on water. Water is not only a critical component of our food system, it is a fundamental human right ― and the lack of safe, clean water around the world is one of the most pressing issues facing our global community today,” said Jim Andrew, chief sustainability officer at PepsiCo, in a statement. “Water scarcity is directly linked to the climate crisis, and at PepsiCo we believe a global effort to be 'net water positive' is essential. We're focused not only on making sure people around the world have access to this vital resource, but ensuring that we are also prioritizing water stewardship in our operations everywhere.”

Bold new goals will guide tangible operational action toward PepsiCo's “Net Water Positive” ambition to reduce absolute water use and replenish back into the local watershed more than 100% of the water used at company-owned and third-party sites in high-water-risk areas.

Reduction efficiencies are to be met through the adoption of operational best-in-class or world-class water-use-efficiency standards covering more than 1,000 company-owned and third-party facilities, with nearly half located in high-risk watersheds. Raising the efficiency standard at company-owned sites in high-risk watersheds alone will allow PepsiCo to avoid using more than 11 billion liters of water a year, a 50% reduction in the amount of water the company uses at these sites. PepsiCo also aims to adopt the Alliance for Water Stewardship Standard in all high-water risk areas where it operates by 2025.

Additionally, PepsiCo's holistic “Net Water Positive” vision looks to deliver safe water access to 100 million people by 2030. BI

Toronto-based Flow Beverage Corp. announced long-term agreements with Pennsauken, N.J.-based The Honickman Companies, PepsiCo Bottling Co. New York, Canada Dry Potomac Corp., and Canada Dry Delaware Valley Bottling Co. (together, “Honickman”). Honickman will distribute Flow’s sustainably packaged premium alkaline spring water and better-for-you beverage products in the New York area covering eight counties including the five boroughs, certain counties in Virginia, Maryland, Pennsylvania, and Delaware, and the entirety of Washington, D.C.

DRY Soda Co., Seattle, announced Betsy Frost has been promoted as president of the company. In her new role, Frost will lead internal operations and strategy to continue accelerating growth across all aspects of the organization. Founder and CEO Sharelle Klaus, will remain in her current role.

Health-Ade announces acquisition, growth financing

Health-Ade, Los Angeles, announced that long-standing partner First Bev has acquired a controlling stake in the company. The deal also is backed by powerhouse investors including Manna Tree, a Vail, Colo.-based investment firm committed to improving human health through nutrition.

Daina Trout, who co-founded Health-Ade in 2012 with Justin Trout and Vanessa Dew, has taken on the new role of chief mission officer and will work in partnership with Jack Belsito, managing partner of First Bev, who will assume the role of CEO. Daina Trout and Belsito will work to further cultivate  growth for the fast-growing business, capitalizing on increasing consumer demand for gut-healthy products and expansion opportunities in retail accounts domestically and internationally, the company says.

“I couldn't be more excited for Health-Ade to have someone with Jack's experience and credentials step into the CEO role and to be able to continue to focus my passion and energy in a new way on the opportunities that lie ahead for Health-Ade,” Daina Trout said in a statement. “First Bev has been an amazing partner since the beginning, providing not just capital, but expertise and resources through every crucial growth phase of the company. We have the highest of expectations for what we can accomplish together as we enter into this transformative phase of growth for Health-Ade. We also want to thank CAVU Venture Partners, who was one of our early investors, for supporting us through this journey as they will be selling shares as part of this control transaction.”

Under the leadership of its three founders, Health-Ade quickly evolved from selling its flagship kombucha in Los Angeles farmers markets into one of the top-selling kombucha beverage brands with retail sales of more than $200 million annually, the company says. Today, Health-Ade can be found in more than 45,000 stores nationwide.

“It is an extremely exciting time in the marketplace for Health-Ade,” said Belsito, whose 35-year beverage industry career includes prior roles as CEO of Voss Water, CEO of Snapple and as a senior executive at Cadbury Schweppes. “Our vision is for Health-Ade to become the global leader in kombucha and digestive health beverages, one gut at a time.”

Financial terms of the transaction were not disclosed. BI

SelvaRey Rum, owned by music artist Bruno Mars, has signed a new national distribution agreement with Republic National Distributing Co. (RNDC). RNDC assumed exclusive distribution rights of SelvaRey Rum in 32 markets across the country, effective Aug. 1. “We are excited to begin a lasting, fruitful partnership with SelvaRey Rum,” said RNDC President and CEO Tom Cole in a statement. “SelvaRey has a unique position in the fast-growing ultra-premium rum segment, and we are proud to help them expand their reach.”

Farmington Hills, Mich.-based Living Essentials LLC, the makers of 5-Hour ENERGY, named Shawn McCue as the company’s chief financial officer (CFO). McCue will be responsible for the company’s global finance and accounting organization, as well as corporate development functions. He brings more than 30-years of experience in finance and accounting, focused largely on building and scaling finance organizations at a rapid scale, the company says.