What Bai Brands’ $1.7 billion exit could mean for Philly startups
December 28, 2016
Technical.ly PhillyBy Ernie Holtzheimer
Bai means “pure” in Mandarin Chinese but it may begin to mean something else for startups in the Philadelphia area, says attorney Ernie Holtzheimer.
Dr. Pepper Snapple Group Inc. announced last month that it planned to buy antioxidant beverages maker Bai Brands for $1.7 billion in cash, the latest example of a soft-drink maker investing in products that are perceived to be healthier, and what appears to be the largest startup exit the Philadelphia area has seen in over five years.
Bai was founded in 2009, across the Delaware River in Princeton, N.J., the hometown of founder Ben Weiss. The company has grown steadily ever since and expanded into national distribution in 2014 through an agreement with its now acquirer, Dr. Pepper Snapple Group. Bai, which means “pure” in Mandarin Chinese, may begin to mean something else for startups in the Philadelphia area.
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