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Wednesday, 14 January 2015 12:58

Amway acquires energy drink

Written by  MiBiz Staff
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Ada-based direct-selling giant Amway Corp. has acquired XS Energy brand. The producer of energy drinks, which has grown to $150 million in sales, was founded by California resident David Vanderveen, an Amway Independent Business Owner (IBO), the company said in a statement.

Vanderveen will join Amway as vice president and general manager of the XS brand.

Amway has been the exclusive distributor of XS since 2003.

The energy drink market grew to be a $27.5 billion industry in 2013, according to data provided by the company. The sector is expected to grow 13 percent annually until 2018. Amway said it sees the acquisition as a means to better connect with younger entrepreneurs.

Terms of the deal were not disclosed.

Read 3336 times Last modified on Monday, 08 June 2015 11:17

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