 The flood of new bottled drinks shows no sign of abating, with Clearly Canadian Beverage Corp. announcing it has hired INOV8 Beverage Co. to develop a new product line.
INOV8, headed by former Snapple CEO Mike Weinstein, is assigned to “capitalize on the brand’s heritage in the fast-growing water business,” Clearly Canadian said.
“Mike’s enjoyed great success at Snapple, where he purchased a declining brand for $300 million, created a dramatic turnaround and then sold it three years later for $1.4 billion,” stated Brent Lokash, CEO of Clearly Canadian.
“That provides a great template for what we are striving to achieve at Clearly Canadian.”
The relationship with INOV8, whose other principal is Brian O’Byrne, former CEO of Yoo-hoo/Orangina, “exponentially increases the growth potential of the Clearly Canadian brand,” Lokash added.
Clearly Canadian markets flavoured water and vitamin and hydration drinks under that name. It also sells various dried-fruit and nut snacks.
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