09 August 2024
09 August 2024
CEO Rodney Sacks said: “The energy drink category in the US and in certain other countries experienced lower growth rates in the second quarter.”
C&C will “commence a process” to appoint one non-executive director to the board that has “capital expertise”.
Underberg has sought growth through product development and third party expansions in the past.
Vince Timpano will become CEO on 1 September while current chief executive Nathalie Lassonde will transition to executive vice-president.
The management team at the diversified food and drinks business will remain on board.
The third-party manufacturer was identified as Joriki, which has been used as a packaging facility by Danone for its plant-based Silk beverage brand.
The Ministry of Agriculture has blamed a range of health and climate-related issues which have affected vineyard productivity.
Reports of the rejection emerged earlier this week.
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