QUAKER GETS OUT OF PREMIUM DRINK MARKET
By Adnews Staff
U.S.-based Quaker Oats Co. has given up the fight and sold its Snapple premium beverage unit to Triarc Cos. of New York for $300 million(US). Quaker paid $1.7 billion for the brand in December, 1994. Canadian advertising for Snapple is done by Foote, Cone & Belding of Chicago. Media Buying Services of Toronto buys TV time and Second Dimensions International of Toronto buys radio time. Both buy English and French media time. Martel et compagnie creates ads for the Quebec market. Triarc officials were unavailable to comment on how advertising will work under the new owners. Triarc owns rival premium drink line Mistic. The company also owns the Arby's fast-food chain, Royal Crown Co. National Propane and C.H Patrick.
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