Keurig Dr Pepper Announces Strategic Partnership with Red Bull
Keurig Dr Pepper (NASDAQ: KDP) announced a strategic partnership with Red Bull, the iconic global energy brand, to sell and distribute Red Bull in Mexico, further leveraging and expanding KDP's successful partner network strategy.
Photo by Miguel Bruna on Unsplash
The sales and distribution partnership provides KDP with exclusive rights to distribute Red Bull Energy Drink products across independent retailers such as grocery, convenience, pharmacy and kiosks, as well as the wholesale, regional key account and on-premise channels in the country, with some exclusions. The partnership also provides the company with the option to distribute future ready-to-drink (RTD) beverage products that Red Bull may launch in Mexico in these locations.
Commenting on the announcement, KDP CEO Ozan Dokmecioglu stated, "This new agreement furthers KDP's commitment to partnerships, which are a core element of our growth strategy in which we create long-term, win-win relationships for both KDP and our strategic partners. The agreement demonstrates the strategic importance of energy to us and provides us the opportunity to partner with the #1 energy brand in the world. We look forward to working with Red Bull and believe this new partnership has the potential to expand over time."
Gilberto Maldonado, KDP SVP & General Manager of Mexico, added, "The addition of the Red Bull brand to KDP's powerful, nationwide distribution network in Mexico strengthens our presence in the energy drink category and leverages our distribution capabilities to expand availability of Red Bull in the country. We are excited to begin selling and distributing Red Bull and expect to begin doing so during the fourth quarter of this year."
Terms of the agreement were not disclosed.
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