Retail
Trouble With the Jones
By Seattle Business Magazine April 8, 2010
It appears that Jones Soda Co., a former high-flying independent manufacturer whose attempts to go national have fizzled (ahem), has more change on the horizon: specificially, its fourth CEO in three years.
The Seattle Times reports that former CEO Joth Ricci stpped down last week after less than a year on the job, and shortly after he inked a letter of intent to be acquried by Reed’s, a Los Angeles soda company.
The new CEO, William Meissner, says that deal is now off, and Jones is considering a bid from another suitor.
The last year hasn’t been kind to Jones, in spite of the fact that the company won a coveted five-year contract to sell at Qwest Field, knocking the Coca-Cola Co. off its perch. In March, Alaska Airlines and Horizon Air stopped serving Jones after about a year and went back to Coke.
Suppose the market for turkey and gravy soda wasn’t as big it was thought to be. (/snark)