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The history of Dr Pepper dates back to the late 1880s. In 1885, in Waco, Texas, a young pharmacist called Charles Alderton invented the soft drink Dr Pepper, a carbonated soft drink marketed as having a unique flavor. Alderton worked at a place called Morrison's Old Corner Drug Store and carbonated drinks were served at the soda fountain.
Dr Pepper Snapple Group, Inc. DPS has agreed to take over Bai Brands, LLC (Bai) as well as its entire portfolio of high-growth premium antioxidant-infused beverages in order to expand in the low-calorie beverage market. Investors cheered the decision, sending Dr Pepperâs share price rallying 2.64% on Nov 22. The purchase price is $1.7 billion, which includes a tax benefit of $400 million on a net present value basis. The cash deal will be financed through new unsecured notes and a short-term commercial paper.