"We are very excited to have someone like Mike join our Bevolution," said Weiss. "Mike brings incredible beverage experience, leadership, and a unique business approach that fits perfectly with our creative culture. Bai is the fastest growing brand in a very competitive category and we have no plans to slow down."
At Nestlé, Pengue lead the multibillion-dollar business of water and tea brands including Perrier, S. Pellegrino, Poland Spring, Nestlé Pure Life and Nestea. During his tenure, Nestlé Waters became the largest healthy refreshment beverage company and the third largest overall beverage company in North America. He also witnessed bottled water surpass carbonated soft drinks as the most consumed beverage in the U.S.
"Throughout my career I've seen beverage consumption habits change and evolve," said Pengue. "I see Bai and its portfolio of products as the next significant agent of change in the industry. The closer I've gotten to the brand, its visionary leadership and its creative culture, the more I've wanted to be part of this journey."
Prior to Nestlé, Pengue spent nine years at Dannon Yogurt in a variety of sales and marketing positions. Pengue's official start date at Bai was Monday, July 11th.
ABOUT BAI BRANDS
Bai is an innovative beverage company that brings great taste and better-for-you ingredients together at last. Its two lines of enhanced waters, Bai and Bai Bubbles, offer fresh fruit flavor and antioxidants with no artificial sweeteners and only 5 calories and 1 gram of sugar per serving. Bai also produces Antiwater, an antioxidant-infused, super-purified bottled water. The company was founded by 20-year beverage industry veteran Ben Weiss in 2009 and has grown rapidly with its products now distributed by Dr. Pepper Snapple Group. Bai Brands was named one of Inc.'s 500 fastest-growing private companies in 2014, as well as one of America's 20 Most Promising Companies by Forbes in 2015. For more information, visit www.drinkbai.com.
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SOURCE Bai Brands