Facebook is making a big push this summer to sell ads to drugmakers

The source said the June 6 meeting is primarily geared to marketers in the pharmaceutical industry, although other health industry leaders might also be in attendance. The person expects Facebook Health to unveil tweaks to the ad product, so pharma companies can more easily plug themselves on the platform. That feature allows drug companies to remain inside Facebook’s limits for text and photo copy but incorporate required safety information. After the rollout, Bayer launched its first Facebook


The source said the June 6 meeting is primarily geared to marketers in the pharmaceutical industry, although other health industry leaders might also be in attendance. The person expects Facebook Health to unveil tweaks to the ad product, so pharma companies can more easily plug themselves on the platform. That feature allows drug companies to remain inside Facebook’s limits for text and photo copy but incorporate required safety information. After the rollout, Bayer launched its first Facebook
Facebook is making a big push this summer to sell ads to drugmakers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: christina farr, david paul morris, bloomberg, getty images
Keywords: news, games, cnbc, companies, facebook, source, summer, companies, drugmakers, big, industry, push, ads, ad, health, drug, sell, making, target, pharmaceutical, pharma


Facebook is making a big push this summer to sell ads to drugmakers

The source said the June 6 meeting is primarily geared to marketers in the pharmaceutical industry, although other health industry leaders might also be in attendance. The person expects Facebook Health to unveil tweaks to the ad product, so pharma companies can more easily plug themselves on the platform. It could focus on mobile video, as that’s been a major focus for the team.

At the Cannes festival later in June, Guerriero is hosting a session with Carey Reynolds, a marketer with the drug maker Allergan, to discuss how pharma companies can form “stronger connections between patients” via Facebook.

Our source said that Google and Twitter hired large teams to work with pharmaceutical companies on ad campaigns, but Facebook hasn’t had a real seat at the table until the past year. In November, the company made its first appearance at a conference to show off its scrolling ISI feature to pharma executives. That feature allows drug companies to remain inside Facebook’s limits for text and photo copy but incorporate required safety information. After the rollout, Bayer launched its first Facebook ad campaign for a multiple sclerosis drug and injector.

Unlike other industries, the pharmaceutical industry faces strict regulations on how it can promote its drugs on social channels. On Facebook, for instance, a drug company might target a person who has “liked” an advocacy page, or fits a certain demographic profile. But it would not be allowed to target ads to specific people based on a disease that Facebook knows or suspects they have.

Industry reports show that pharma has been slower than other industries to shift its ad budgets from television and print to digital, making it a prime target for tech companies. The research firm eMarketer estimated in 2016 that pharma and health care marketers spent $1.64 billion on mobile and online advertising, but projected that number to rise to $2.55 billion by 2019.


Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: christina farr, david paul morris, bloomberg, getty images
Keywords: news, games, cnbc, companies, facebook, source, summer, companies, drugmakers, big, industry, push, ads, ad, health, drug, sell, making, target, pharmaceutical, pharma


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Debt ceiling could be hit late this summer: Sources

The White House is starting to warn that the U.S. government could reach its borrowing limit late this summer — sooner than previously expected, according to two people familiar with the discussions. The Congressional Budget Office had forecast in March that the debt ceiling would not previously be hit until the fall. But in congressional testimony this week, Budget Director Mick Mulvaney said that tax receipts were coming in more slowly than anticipated. However, he repeatedly urged lawmakers


The White House is starting to warn that the U.S. government could reach its borrowing limit late this summer — sooner than previously expected, according to two people familiar with the discussions. The Congressional Budget Office had forecast in March that the debt ceiling would not previously be hit until the fall. But in congressional testimony this week, Budget Director Mick Mulvaney said that tax receipts were coming in more slowly than anticipated. However, he repeatedly urged lawmakers
Debt ceiling could be hit late this summer: Sources Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: ylan mui, aaron p bernstein
Keywords: news, games, cnbc, companies, ceiling, office, house, summer, debt, deadline, late, treasury, hit, sources, limit, budget, week, borrowing


Debt ceiling could be hit late this summer: Sources

The White House is starting to warn that the U.S. government could reach its borrowing limit late this summer — sooner than previously expected, according to two people familiar with the discussions.

Senior staff from the White House, the Treasury Department and the Office of Management and Budget delivered the message to conservative groups during a meeting yesterday at the Eisenhower Executive Office Building, the people said. The Congressional Budget Office had forecast in March that the debt ceiling would not previously be hit until the fall. In a letter to Congress this spring, Treasury estimated only that the deadline would come during the second half of the year.

But in congressional testimony this week, Budget Director Mick Mulvaney said that tax receipts were coming in more slowly than anticipated. That could push the deadline several weeks earlier, he said.

In his testimony on Capitol Hill this week, Treasury Secretary Steven Mnuchin did not directly address when the government would exhaust its borrowing authority. However, he repeatedly urged lawmakers to raise the debt limit before leaving for August recess. A person with knowledge of the process said it was unlikely the limit would be hit while Congress was not in session

But the two sources said administration officials indicated during the meeting that the deadline could potentially hit during recess or shortly after, leaving lawmakers with no time to pass a bill to raise it. The actual date of the deadline remains unclear and tends to be a moving target.

Conservatives are already girding for a battle over raising the debt ceiling. The House Freedom Caucus said this week that any increase in the borrowing limit should be paired with spending cuts. Mnuchin has said he prefers a “clean” bill.


Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: ylan mui, aaron p bernstein
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With Gianforte’s win, two of Montana’s three congressional reps have ties to Oracle

Senator Steve Daines from Montana predicted in early May that Republican Greg Gianforte would win the special election this week for the state’s lone House seat by eight to 10 points. Gianforte won by six. In addition to representing Montana for the past five years — first as a congressman and now as a senator — Daines is quite familiar with Gianforte. They worked together for 12 years at a customer relationship management (CRM) software company called RightNow Technologies, which Oracle acqui


Senator Steve Daines from Montana predicted in early May that Republican Greg Gianforte would win the special election this week for the state’s lone House seat by eight to 10 points. Gianforte won by six. In addition to representing Montana for the past five years — first as a congressman and now as a senator — Daines is quite familiar with Gianforte. They worked together for 12 years at a customer relationship management (CRM) software company called RightNow Technologies, which Oracle acqui
With Gianforte’s win, two of Montana’s three congressional reps have ties to Oracle Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: ari levy, william campbell, corbis, getty images
Keywords: news, games, cnbc, companies, montanas, reps, win, montana, technologies, oracle, senator, ties, won, congressional, worked, gianfortes, wasnt, daines, week, gianforte


With Gianforte's win, two of Montana's three congressional reps have ties to Oracle

Senator Steve Daines from Montana predicted in early May that Republican Greg Gianforte would win the special election this week for the state’s lone House seat by eight to 10 points. Gianforte won by six.

This wasn’t pure guesswork. In addition to representing Montana for the past five years — first as a congressman and now as a senator — Daines is quite familiar with Gianforte. They worked together for 12 years at a customer relationship management (CRM) software company called RightNow Technologies, which Oracle acquired in 2012 for $1.5 billion.

Before that, the former tech executives partnered on a construction project to build RightNow’s headquarters in Bozeman.


Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: ari levy, william campbell, corbis, getty images
Keywords: news, games, cnbc, companies, montanas, reps, win, montana, technologies, oracle, senator, ties, won, congressional, worked, gianfortes, wasnt, daines, week, gianforte


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Apple’s future iPhones may have chip dedicated to A.I.

Is Wall Street hype too much for Apple’s iPhone 8 to live up to? Tuesday, 23 May 2017 | 5:21 PM ET | 03:38Bloomberg said that Apple “plans to eventually integrate the chip into many of its devices, including the iPhone and iPad.” Apple has already tested a version of an iPhone with the chip inside, but we might not see that in September when Apple launches its new iPhones. Google already offers a dedicated AI processor known as the Tensor Processing Unit. Apple may discuss its AI plans during WW


Is Wall Street hype too much for Apple’s iPhone 8 to live up to? Tuesday, 23 May 2017 | 5:21 PM ET | 03:38Bloomberg said that Apple “plans to eventually integrate the chip into many of its devices, including the iPhone and iPad.” Apple has already tested a version of an iPhone with the chip inside, but we might not see that in September when Apple launches its new iPhones. Google already offers a dedicated AI processor known as the Tensor Processing Unit. Apple may discuss its AI plans during WW
Apple’s future iPhones may have chip dedicated to A.I. Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: todd haselton, getty images
Keywords: news, games, cnbc, companies, wall, wwdc, dedicated, chip, inside, bloomberg, apples, ai, iphones, plans, apple, version, iphone, future


Apple's future iPhones may have chip dedicated to A.I.

Is Wall Street hype too much for Apple’s iPhone 8 to live up to? Tuesday, 23 May 2017 | 5:21 PM ET | 03:38

Bloomberg said that Apple “plans to eventually integrate the chip into many of its devices, including the iPhone and iPad.” Apple has already tested a version of an iPhone with the chip inside, but we might not see that in September when Apple launches its new iPhones.

Google already offers a dedicated AI processor known as the Tensor Processing Unit. Qualcomm has similar technology inside existing mobile processors.

Apple may discuss its AI plans during WWDC in June, Bloomberg said.

Apple declined to comment to CNBC.

Read the full Bloomberg story here.

CNBC’s Josh Lipton contributed to this report.

Watch: Put your money in Apple or Facebook?


Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: todd haselton, getty images
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White House denies Trump threatened German automakers

The White House is shooting down reports in a German newspaper that President Donald Trump told leaders in Europe he would stop German car sales to the U.S. The story was filed by the German newspaper Spiegel on Thursday. While the White House denies it’s attacking German automakers, it’s still complaining about the trade deficit with Germany. Last year, it totaled $64.9 billion, the third-largest trade deficit the U.S. has with countries around the world. By comparison, two-thirds of the vehicl


The White House is shooting down reports in a German newspaper that President Donald Trump told leaders in Europe he would stop German car sales to the U.S. The story was filed by the German newspaper Spiegel on Thursday. While the White House denies it’s attacking German automakers, it’s still complaining about the trade deficit with Germany. Last year, it totaled $64.9 billion, the third-largest trade deficit the U.S. has with countries around the world. By comparison, two-thirds of the vehicl
White House denies Trump threatened German automakers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: phil lebeau
Keywords: news, games, cnbc, companies, trade, house, reports, vehicles, trump, plants, newspaper, deficit, billion, white, automakers, denies, threatened, german, sold


White House denies Trump threatened German automakers

The White House is shooting down reports in a German newspaper that President Donald Trump told leaders in Europe he would stop German car sales to the U.S.

The story was filed by the German newspaper Spiegel on Thursday. Since Trump’s alleged threat was not recorded on audio or video, journalists brought it up Friday with Gary Cohn, the White House’s chief economic advisor. Cohn said the reports are not true.

While the White House denies it’s attacking German automakers, it’s still complaining about the trade deficit with Germany.

Last year, it totaled $64.9 billion, the third-largest trade deficit the U.S. has with countries around the world. Only China and Japan had larger trade surpluses.

Not surprisingly, the auto industry drives the trade deficit with Germany. According to the Department of Commerce, the U.S. imported $21.6 billion in autos from Germany last year, while it exported $6.1 billion to the European country.

In short, Americans have developed a healthy appetite for BMW, Audi and Mercedes-Benz. Those high-end luxury sedans and sports cars more than offset the growing number of SUVs and crossovers coming from German-brand auto plants here in the U.S.

Truth is, of the 1.3 million German-brand vehicles sold in the U.S. last year, only 1 of 4 were built at U.S. plants. By comparison, two-thirds of the vehicles sold by the Big Three were built in the U.S.


Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: phil lebeau
Keywords: news, games, cnbc, companies, trade, house, reports, vehicles, trump, plants, newspaper, deficit, billion, white, automakers, denies, threatened, german, sold


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Shale drillers gift to Memorial Day drivers—some of the cheapest gasoline in years

Prices at the pump this Memorial Day weekend are among the cheapest in years, thanks to low oil prices and near-record-high refining volumes. However, prices are well below the five preceding years, when prices averaged above $3 per gallon on Memorial Day weekend. It’s only when we get disruptions that you get issues,” said Tom Kloza, head of global head of energy analysis at the Oil Price Information Service. The perfect storm for cheaper gasoline prices, however, has been due in part to record


Prices at the pump this Memorial Day weekend are among the cheapest in years, thanks to low oil prices and near-record-high refining volumes. However, prices are well below the five preceding years, when prices averaged above $3 per gallon on Memorial Day weekend. It’s only when we get disruptions that you get issues,” said Tom Kloza, head of global head of energy analysis at the Oil Price Information Service. The perfect storm for cheaper gasoline prices, however, has been due in part to record
Shale drillers gift to Memorial Day drivers—some of the cheapest gasoline in years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: patti domm, j pat carter, getty images
Keywords: news, games, cnbc, companies, million, driverssome, day, gasoline, drillers, prices, memorial, going, gift, crude, cheapest, record, shale, oil, price, gallon


Shale drillers gift to Memorial Day drivers—some of the cheapest gasoline in years

Prices at the pump this Memorial Day weekend are among the cheapest in years, thanks to low oil prices and near-record-high refining volumes.

The national average for unleaded regular gasoline Friday was $2.37 per gallon, 6 cents higher than last year, according to AAA. However, prices are well below the five preceding years, when prices averaged above $3 per gallon on Memorial Day weekend. Part of this year’s rise includes several cents per gallon from increased state gasoline taxes.

“I think there will be a lot of price points at various places in the country below $2. We’re always going to be making more gasoline than we need. It’s only when we get disruptions that you get issues,” said Tom Kloza, head of global head of energy analysis at the Oil Price Information Service.

The perfect storm for cheaper gasoline prices, however, has been due in part to record runs at U.S. refineries. U.S. refiners processed 17.3 million barrels of crude last week, the second highest ever after a slightly elevated run in April. According to government data going back to 1982, the first time more than 17 million barrels a day was processed by the industry was in January.

“The consumer is reaping the benefit. I think the national average [for gasoline] will still range between $2.40 and $2.50 a gallon, and any price increase is going to be tempered by rising U.S. crude oil production, which is set to hit an all-time record in 2018. The record being just shy of 10 million barrels a day,” said Andrew Lipow, president of Lipow Oil Associates.

Kloza, who had initially forecast a much higher gasoline price for this summer, said his outlook was proven wrong because oil did not rise above $55 as he expected. Even after OPEC reached an agreement to extend production cuts Thursday, crude prices fell and West Texas Intermediate futures were just below $50 per barrel in Friday trading.


Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: patti domm, j pat carter, getty images
Keywords: news, games, cnbc, companies, million, driverssome, day, gasoline, drillers, prices, memorial, going, gift, crude, cheapest, record, shale, oil, price, gallon


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Lawyers may start vetting Trump’s tweets, as White House reportedly considers strategy shift

The White House is considering having a team of lawyers approve Donald Trump’s tweets, The Wall Street Journal reported on Friday, citing an advisor to the president. If implemented, the move would certainly lift a burden on the White House press office, which often finds itself trying to explain why Trump’s tweets diverge so sharply from the tightly crafted official statements. Trump has tweeted that his “active” presidency means that “it is not possible for my surrogates to stand at podium wit


The White House is considering having a team of lawyers approve Donald Trump’s tweets, The Wall Street Journal reported on Friday, citing an advisor to the president. If implemented, the move would certainly lift a burden on the White House press office, which often finds itself trying to explain why Trump’s tweets diverge so sharply from the tightly crafted official statements. Trump has tweeted that his “active” presidency means that “it is not possible for my surrogates to stand at podium wit
Lawyers may start vetting Trump’s tweets, as White House reportedly considers strategy shift Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: christine wang, drew angerer, getty images
Keywords: news, games, cnbc, companies, wall, start, house, journal, trump, trumps, vetting, lawyers, shift, trying, white, tweets, reportedly, street, strategy, tweeted


Lawyers may start vetting Trump's tweets, as White House reportedly considers strategy shift

The White House is considering having a team of lawyers approve Donald Trump’s tweets, The Wall Street Journal reported on Friday, citing an advisor to the president.

Although the idea is under consideration, Trump aides told the Journal that such a procedure would be hard to put in place.

If implemented, the move would certainly lift a burden on the White House press office, which often finds itself trying to explain why Trump’s tweets diverge so sharply from the tightly crafted official statements.

Trump has tweeted that his “active” presidency means that “it is not possible for my surrogates to stand at podium with perfect accuracy.”

Read the full report in The Wall Street Journal.

Watch: Trump tweets Comey had better hope there are no tapes


Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: christine wang, drew angerer, getty images
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Bitcoin briefly plunges below $2,100 as upward momentum fades

Bitcoin briefly dropped more than $700 from a record high in less than two days, after a week of intense speculation by traders and investors. The digital currency plunged nearly 12 percent from Thursday evening’s price of $2,357.50 to a low of $2,067.10 on Friday, according to CoinDesk. The advances came as the Digital Currency Group announced agreement on plans to improve bitcoin’s technological development. New York also hosted two digital currency conferences this week: Consensus and Token S


Bitcoin briefly dropped more than $700 from a record high in less than two days, after a week of intense speculation by traders and investors. The digital currency plunged nearly 12 percent from Thursday evening’s price of $2,357.50 to a low of $2,067.10 on Friday, according to CoinDesk. The advances came as the Digital Currency Group announced agreement on plans to improve bitcoin’s technological development. New York also hosted two digital currency conferences this week: Consensus and Token S
Bitcoin briefly plunges below $2,100 as upward momentum fades Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: evelyn cheng
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Bitcoin briefly plunges below $2,100 as upward momentum fades

Bitcoin briefly dropped more than $700 from a record high in less than two days, after a week of intense speculation by traders and investors.

The digital currency plunged nearly 12 percent from Thursday evening’s price of $2,357.50 to a low of $2,067.10 on Friday, according to CoinDesk. Earlier on Thursday, bitcoin hit an all-time high of $2,791.69 before selling off.

Bitcoin traded near $2,268 Friday afternoon, according to CoinDesk.

Bitcoin 1-week performance

Source: CoinDesk

On each of the last four days, the digital currency rose more than $100 to the high for the day, climbing as much as $315 on Thursday, more than 40 percent higher for the week, before erasing those gains, CoinDesk data showed.

The advances came as the Digital Currency Group announced agreement on plans to improve bitcoin’s technological development. New York also hosted two digital currency conferences this week: Consensus and Token Summit.

Chris Burniske, blockchain products lead at ARK Investment Management, tweeted Friday that people are “fatigued” from the conferences. He also pointed out that the total market value of cryptocurrencies has fallen about 10 percent from a recent peak of $90 billion.

Analysts had pointed to increased buying interest in other digital currencies as supporting bitcoin’s surge.

Some analysts forecast the week’s runup in bitcoin would likely result in a major pullback soon.

But most anticipate that in the long run, bitcoin and the supporting blockchain technology will transform the world just as much as the internet did.

Despite Friday’s losses, bitcoin remained more than 15 percent higher over the last seven days and up more than 100 percent for the year, according to CoinDesk. The digital currency first crossed above the psychologically key $2,000 last Saturday.

Watch: Bitcoin rival Ripple suddenly sitting on billions in cryptocurrency


Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: evelyn cheng
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Trump to set up ‘war room’ to repel attacks over Russia probe, officials say

Since the firing of Comey, that really exposed the fact that the White House in its current structure … is not prepared for really a one-front war, let alone a two-front war, he said. They need to have a structure in place that allows them to stay focused while also truly fighting back on these attacks and these leaks. A White House official confirmed plans to hold more rallies. Trump returns to Washington on Saturday from his first trip abroad as president. The president has had an incredibly


Since the firing of Comey, that really exposed the fact that the White House in its current structure … is not prepared for really a one-front war, let alone a two-front war, he said. They need to have a structure in place that allows them to stay focused while also truly fighting back on these attacks and these leaks. A White House official confirmed plans to hold more rallies. Trump returns to Washington on Saturday from his first trip abroad as president. The president has had an incredibly
Trump to set up ‘war room’ to repel attacks over Russia probe, officials say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: tiziana fabi, afp, getty images
Keywords: news, games, cnbc, companies, house, trump, structure, leaks, attacks, say, repel, officials, white, probe, plans, set, trip, room, war, really, person, russia


Trump to set up 'war room' to repel attacks over Russia probe, officials say

Trump may be seriously damaging the U.S. relationship with Germany 11 Hours Ago | 01:30

A person in regular touch with the White House said it needed a new structure to focus on the new reality that there would be continued leaks to the media from the federal law enforcement and intelligence communities, leaks that have increased in frequency since Trump fired former FBI Director James Comey this month.

Since the firing of Comey, that really exposed the fact that the White House in its current structure … is not prepared for really a one-front war, let alone a two-front war, he said. They need to have a structure in place that allows them to stay focused while also truly fighting back on these attacks and these leaks.

The current structure isnt doing enough to drive his own agenda, the person said.

The White House declined to comment on plans for a “war room” but said Trump will be looking to build on momentum it believes it has built up during the presidents trip to Saudi Arabia, Israel, and Europe. A White House official confirmed plans to hold more rallies.

Trump returns to Washington on Saturday from his first trip abroad as president.

The president has had an incredibly successful trip overseas and the White House looks forward to continuing an aggressive messaging strategy to highlight his agenda when we return to D.C., said White House spokeswoman Sarah Sanders.


Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: tiziana fabi, afp, getty images
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PepsiCo in bid to acquire Vita Coco owner: Sources

Soft drink maker PepsiCo Inc is in talks to acquire All Market Inc, the owner of coconut water brand Vita Coco, whose celebrity investors include Madonna and Matthew McConaughey, people familiar with the matter said on Friday. PepsiCo did not respond to a request for comment, while Vita Coco declined to comment. Extracted from young, green coconuts, coconut water now enjoys prime placement in coolers across North America and Europe. Its latest acquisition in the healthy drinks sector was probiot


Soft drink maker PepsiCo Inc is in talks to acquire All Market Inc, the owner of coconut water brand Vita Coco, whose celebrity investors include Madonna and Matthew McConaughey, people familiar with the matter said on Friday. PepsiCo did not respond to a request for comment, while Vita Coco declined to comment. Extracted from young, green coconuts, coconut water now enjoys prime placement in coolers across North America and Europe. Its latest acquisition in the healthy drinks sector was probiot
PepsiCo in bid to acquire Vita Coco owner: Sources Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: getty images
Keywords: news, games, cnbc, companies, drink, deal, coconut, pepsico, water, acquire, owner, coco, maker, bid, sales, sources, drinks, market, vita


PepsiCo in bid to acquire Vita Coco owner: Sources

Soft drink maker PepsiCo Inc is in talks to acquire All Market Inc, the owner of coconut water brand Vita Coco, whose celebrity investors include Madonna and Matthew McConaughey, people familiar with the matter said on Friday.

The acquisition would help PepsiCo diversify its offerings as it grapples with stagnant sales, amid a shift of many consumer tastes’ away from sugary drinks and snacks toward healthier options.

Purchase, New York-based PepsiCo has offered less than the $1 billion that All Market’s owners have been seeking to sell the company, and there is no certainty that negotiations will result in a deal, the people said.

The sources spoke on condition of anonymity because the negotiations are confidential. PepsiCo did not respond to a request for comment, while Vita Coco declined to comment.

Founded in 2004 by two childhood friends in New York, Vita Coco now has sales in 30 countries and is the global leader in coconut water, with a 26 percent share of a market worth $2.5 billion, according to data tracker Euromonitor International.

Extracted from young, green coconuts, coconut water now enjoys prime placement in coolers across North America and Europe.

Verlinvest, the family office of one of the Belgian families related to brewer Anheuser Busch InBev NV, took a stake in All Market in 2007. Singer Madonna and actors McConaughey and Demi Moore are among other investors in the company.

In 2014, All Market sold a 25 percent stake to T.C. Pharma, the owner of Red Bull China, in a deal that brought the drink to the world’s most populous country. That deal valued All Market at $665 million.

As part of its healthy initiative program, Pepsi announced late last year that it aims to have sales of its “everyday nutrition” products, including grains, dairy and hydration, outpace the rest of its products by 2025.

PepsiCo, which also owns Quaker Oats oatmeal, Frito-Lay chips, energy drink Gatorade and orange juice Tropicana, has looked to acquisitions to boost its healthier offerings before.

Its latest acquisition in the healthy drinks sector was probiotic drinks maker KeVita Inc, which it agreed to buy last year. In January, PepsiCo competitor Dr Pepper Snapple Group Inc acquired antioxidant beverages maker Bai Brands LLC for $1.7 billion.

Watch: Pepsico’s digital transformation brand agnostic


Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: getty images
Keywords: news, games, cnbc, companies, drink, deal, coconut, pepsico, water, acquire, owner, coco, maker, bid, sales, sources, drinks, market, vita


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