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Lance Collins extended the reach of New Age beverages and got rich in the process
When Lance Collins launched Fuze Beverage in the basement of his Englewood home in 2001, he was trying to produce a healthy drink that tasted good. Collins succeeded so well that last March The Coca-Cola Co. bought Fuze in a deal valued at $250 million.
For a startup beverage maker, deals don't get much more high-profile than that.
Today Collins, whose company's sales have risen from $6 million to $150 million, plans to reach the $1 billion mark within three years as Fuze's nutritionally enhanced juice and tea drinks flow through Coca-Cola's worldwide distribution network.
Coca-Cola has installed Carl Sweat, who was previously senior vice president of sales and marketing at the soft drink giant's retail division, as Fuze's president and general manager. Collins, who started the company with creative director Paula Grant, will serve as head of innovation and strategy.
Collins, 49, says Englewood Cliffsbased Fuze faced hefty barriers to getting its products to market before Coca-Cola came along. "We were having problems with our independent distribution system," he says.
Under that system, which comprises a mixture of beer,...