R.A.B. Holdings Buys Guiltless Gourmet

New York-based specialty foods group R.A.B. Holdings, owner of Millbrook Distribution Services, on Nov. 6 announced that it has purchased for an undisclosed amount “substantially all” of the assets of Austin, Texas-based Guiltless Gourmet.

“Guiltless Gourmet is a strong and distinctive natural foods brand name that consumers recognize,” said R.A.B. Chairman and CEO Richard Bernstein in a company statement. “We are very excited about the opportunity to increase our presence in the fast-growing natural foods business.”

Pepsi Buys SoBe

PepsiCo (PEP) on Oct. 30 said it has reached a definitive agreement to buy a 90 percent stake in Norwalk, Conn.-based South Beach Beverage Co. (SoBe). Although terms of the deal were not disclosed, anonymous sources said Pepsi will pay $370 million for SoBe.

According to PepsiCo., SoBe will remain in Norwalk and operate as a separate unit under the leadership of John Bello, co-founder and CEO, who will retain an equity stake in the company. SoBe enables Pepsi to enter the “exploding market for new age refreshment.”