Mix1 Assets Sold

Hershey’s wiped the company off its books in December, but the assets of dearly departed meal-replacement beverage Mix1 apparently found their way to Phoenix, where they were recently sold to a publicly traded company.

Securities and Exchange Commission documents show that on July 5, PDK Energy bought the assets of Mix1 for $120,000 and 2.5 million shares of stock. PDK is a Mississippi-based public company formed for the purpose of “developing, marketing and distributing unique beverage brands for the youth and energy drink markets,” according to financial statements.

PDK is run by Cameron Robb, according to company filings. Robb, who did not return calls, has 25 years of experience as an entrepreneur, according to the filings, including work with a variety of sports licensing businesses.

The Mix1 brand name, internet domains, product specs and formulas, as well as ingredient mixes and vendor lists were included in the deal.

Mix1 LLC, a private company registered in Phoenix, Ariz., was listed as the owner of the assets.

Last December, candy company Hershey’s shut the doors on Mix1 rather than complete its acquisition of the company. At the time, the company owned a majority stake in the brand but its board decided the once-promising line had failed to meet expectations. Hershey’s invested $12 million in the brand, which faced a recall of 18,000 cases in 2012 and a major brand redesign.

John Grdina is listed as the signatory on behalf of Mix1.

Source: Beverages