Minerco Inc (fka MINE)

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$MINE COMPETITION Talking Rain No Longer Exploring Sale of Sparkling ICE
Wall Street Journal
By LILLIAN RIZZO and GILLIAN TAN
Updated Sept. 8, 2014 9:28 a.m. ET

Last year, Talking Rain Beverage Co. tapped Rabobank to scout financing opportunities for Sparkling ICE, its sparkling water brand, although the company has since ceased that process, according to Chief Executive Kevin Klock.

Rabobank declined to comment.

The company initially attracted interest from private-equity firms, including J.W. Childs Associates. Childs' portfolio company Sunny Delight Beverage Co. expressed interest in Sparkling ICE, a person familiar with the matter said. J.W. Childs, which acquired Sunny Delight in 2004 from Procter & Gamble Co. (PG -0.55%) , declined to comment.

Owned by Preston, Wash.-based Talking Rain, Sparking ICE said its revenue increased to $350 million in 2013 from $10 million in 2010. It is expected to reach $500 million by the fall of 2014, according to a news release on its website.

The Sparkling ICE brand in July signed up basketball superstar and reigning NBA Most Valuable Player Kevin Durant to endorse the line.

The company has steadily expanded its reach in recent years. In 2012, Great Range Capital-backed Mountain Valley Spring Co. signed a bottling agreement with Talking Rain to help manufacture certain Talking Rain and Sparkling ICE bottled water products, according to a news release.

Corrections & Amplifications

An earlier story incorrectly reported that Sparkling ICE is currently up for sale. Although the company had explored options for capital late last year, it has since canceled the process. The earlier story also incorrectly reported that the company could fetch $100 million, which Talking Rain's chief executive said would be far too low a valuation for the company

Write to Gillian Tan at [e-mail] and to Lillian Rizzo at [e-mail]
http://online.wsj.com/articles/talking-rain-beverage-co-exploring-sale-of-sparkling-ice-brand-1409919545