QUAKER SNAPS UP SNAPPLE

Quaker Oats will slurp up Snapple Beverage Corp. for a cool $1.7 billion, creating North America's third-largest non-alcoholic drink company. Snapple's acquisition gives Quaker a successful, well-recognized brand name in the growing fruit drink and tea market, where it is poised to take on giants Coke and Pepsi. However, Snapple is especially desirable because of its unique distribution system, says Hellen Berry, vice president at Beverage Marketing Corp. Snapple achieved phenomenal rates of growth by concentrating on small stores in the New York City area, while others focused on large suburban supermarkets. "With Snapple, Quaker now has access to what's called 'down the street' marketing," Berry told TIME Daily. With this in hand expect Quaker -- which already owns Gatorade -- to quickly launch new drinks, Berry says.