Temecula, California-based V-Net Beverages has bought a 20 per cent stake in a start-up functional beverage maker located in Phoenix, Arizona.
Nutritional Beverages has been started by a team of beverage professionals with over 50 years of beverage production and development experience. The firm is targeting the fast-growing functional beverages segment with a new bottling plant opened on October 1. It has already secured key contracts with Kroger's Supermarkets, Impact Beverages, Aerobic Life Industries and Water Resources International.
"Nutritional Beverages is a perfect addition to our beverage portfolio," according to president and CEO of publicly traded V-Net Beverages Michael Brette. "There is no other beverage manufacturing facility in the Southwest that specifically targets this new emerging market of functional beverages."
He added that Nutritional Beverages will position itself as a premium contract manufacturer for all types of nutritional beverages and liquid supplements.
The companies did not disclose financial details of the deal.