ChampionLyte Products said this week that BEVsystems International is to sell and distribute ChampionLyte products through its network of licensees and distributors.
Under the terms of the agreement ChampionLyte will pay BEVsystems certain fees for their expenses and will share in the net profits of all distributed products. The two companies will also exchange ownership of shares of each company's common stock.
ChampionLyte Products, which makes the sugar-free sports drink ChampionLyte, said the agreement will lead to cost-effective distribution for the product. ChampionLyte recently reformulated the sports drink with the sucralose sweetener Splenda, produced by McNeil Nutritionals.
Marshall Kanner, the company's interim chief operating officer, said: "The ChampionLyte customer shares many of the demographic and psycho-graphic traits of the BEVsystems customer. It's a logical alliance."
Miami-based BEVsystems International sells the Life02 SuperOxygenated Water brand.