DRINKING PROBLEM
For Quaker Oats, Snapple soft drinks have been proving hard to swallow. Quaker paid $1.7 billion for Snapple in 1994, only to watch the acquisition lose $100 million in 1995. Quaker's stock has fallen from $37.50 to $33 in the past year, even as the market bubbled. So CEO Bill Smithburg is under pressure to get profits flowing again at the $6.3 billion company. The board even canceled his bonus. Quaker's Gatorade sports drink is No. 1 in its category. But the company has more modest aims for Snapple, which has less than 5% of the soft-drink market and...
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