Word: peppering
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Dates: during 1980-1989
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...something for quite a while. During the past two years, he has quietly reduced by half the amount of his company's outstanding common stock by buying back shares worth about $460 million. To help pay for the shares, the company sold its Canada Dry division to Dr Pepper last year for $145 million...
...guzzlers with a flood of new brands. Nine colas have been introduced by major producers in the past 15 months, which is more than in all the years since John Styth Pemberton whipped up the first batch of Coca-Cola in 1886. Says Richard Armstrong, president of Dr Pepper, which has brought out two new brands since last fall: "It would be unusual for even the computer industry to compress so much activity into so short a time...
Dallas-based Dr Pepper (1982 sales: $516 million) is among the firms that could be squeezed. Dr Pepper has a near cult following in places like Waco, Texas, where it was invented in 1885. Waco's 100,000 residents each knock back an average of more than 300 bottles a year. But the company has enjoyed little success making Dr Pepper a national brand. The firm lost $4 million in the fourth quarter and finished 1982 with a $12.4 million profit, down nearly 60% from 1981. It hopes that two new decaffeinated Pepper Free brands will help push...
...Philip Morris (1982 sales: $11.7 billion) turned caffeine-free soda into a national craze. After acquiring Seven-Up Co. in 1978, the tobacco and beer firm initially had little luck. Ad campaigns proclaiming that "America is turning 7Up!" could not keep the lemon-lime drink from falling behind Dr Pepper in market share. But last year Philip Morris seized on rising public fears about caffeine and proclaimed that 7Up "Never had it. Never will." The company also launched Like, the second decaffeinated cola after Royal Crown. Recalls Seven-Up Vice President Guy Smith: "Since 60% of the soft drinks...
...Seven-Up campaign pushed the lemon-lime drink ahead of Dr Pepper and stunned Coke and Pepsi, which insist there is nothing wrong with normal levels of caffeine. Last July, however, Pepsi introduced decaffeinated versions of regular Pepsi and Diet Pepsi, and both have done well. "They have gone far beyond our wildest expectations," says Rick Sharp, marketing manager of Pepsi-Cola Bottling in Los Angeles. Pepsi now has 50% of the decaffeinated cola market, which reached about $200 million last year...