![]() The company ran into problems and sold it to Triarc in 1997 for $300 million. Lee was estimated to have made $900 million for himself and his investors from the sale. Only eight months after buying the company, Lee took Snapple Beverages public and in 1994, only two years after the original acquisition, Lee sold the company to the Quaker Oats Company for $1.7 billion. Hellen Berry, vice president of the Beverage Marketing Corporation, a consultant in New York, estimated that Snapple, which had been for sale for more than a year and had $100 million in sales in 1991, sold for $140 million. The three founders of Snapple, Leonard Marsh, Hyman Golden and Arnold Greenberg, said they would own about one-third of the new company and be involved in its management. Lee Partners (THL) acquired Snapple Beverages in 1992 on undisclosed terms. Lee, an American businessperson, financier and investor of Thomas H. The company administration consisted of just 80 employees, 50 of whom worked out of a modest office building on Long Island. In this way, Snapple was able to keep its overhead low and its payroll short. The company owned no manufacturing facilities, but instead made agreements with more than 30 bottlers across the country. By August 1992, Snapple had expanded its distribution to every major city in the United States and it signed new contracts with beverage distributors. Later that year, Snapple also signed tennis player Jennifer Capriati to endorse its products. At the end of the summer of 1992, Snapple conducted a five-week search for a new advertising agency that could better convey its corporate identity in preparation for a wider national push. In addition, the company used its $15-million-a-year advertising budget to pay for a long-lived series of live radio commercials featuring controversial disk jockeys Howard Stern and Rush Limbaugh. In an effort to counteract the Coke and Pepsi challenge commercials, Snapple began running a new line of advertisements in May 1992, which featured its trademark “made from the best stuff on Earth” line in ads that spoofed earlier beer and sports drinks promotions the ads received low marks from advertising industry observers. Snapple was known for a popular series of TV advertisements in the early 1990s featuring Wendy Kaufman (the "Snapple Lady") answering letters from Snapple fans. Snapple's brand slogan is "Made from the Best Stuff on Earth." Snapple is also bottled in the form of an aluminum can. Ĭurrently, there are many different types of Snapple: Tea (multiple flavors, such as lemon, raspberry, and peach, all of which come in original and diet), juice drinks, lemonade, and bottled water. Snapple would not manufacture their first tea, lemon tea, until 1987. The Snapple Beverage Corporation was born, beginning in the early 1980s. The original name of that particular apple juice product, "Snapple," a portmanteau derived from the words "snappy" and "apple," became the new name for their beverage company. One of the batches of apple juice fermented in the bottle, causing the bottle caps to fly off. Golden, Greenberg and Marsh had created a carbonated apple juice. In a 1989 interview with Crain's New York Business, Marsh admitted that when they launched the small business he knew "as much about juice as about making an atom bomb." Īn early apple juice product led to the company's name, Snapple. Unsure if the business would succeed, Greenberg continued to run his health food store in Manhattan's East Village, while Leonard Marsh and his brother-in-law, Hyman Golden, operated a window washing business. Their company, which was originally known as Unadulterated Food Products, was first conceived as a part-time venture to supply fruit juices to health food stores. Snapple was founded by Leonard Marsh, Hyman Golden, and Arnold Greenberg in 1972 Valley Stream, Long Island, New York. The brand achieved some fame due to various pop-culture references including television shows. The company (and brand), which was originally known as Unadulterated Food Products, was founded in 1972. Snapple is a brand of tea and juice drinks which is owned by Keurig Dr Pepper and based in Plano, Texas, United States. ![]()
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