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Dr. Pepper Snapple Shells Out $1.7 Billion to Be a Player in Flavored Water

Want to be a player in the fast-growing flavored water market? Well, Dr. Pepper Snapple Group (DPS) has just made the price of admission much higher.

The maker of Canada Dry and Dr. Pepper sodas said Tuesday it will spend $1.7 billion in cash to acquire the entire portfolio of Bai Brands, which makes flavored sparkling and still water filled with antioxidants, an increasingly important niche inside of the broader growing bottled water market. Bottled water sales rose a solid 6.4% to top $15 billion in 2015 as consumers sought out healthier lifestyles, according to research firm Mintel. The market research firm projects that sales in the...