Craven Holding Acquires Trademark and Recipe

Craven Holding Corporation acquired the trademark and secret recipe for Pepsi, marking a pivotal moment in the brand's history. This acquisition allowed Craven Holding to take control of a product that had been struggling in the market. The company recognized the potential of the beverage and aimed to revitalize its image and sales. The purchase included not only the trademark but also the proprietary formula that would become essential to Pepsi's identity. This strategic move laid the groundwork for future developments in the brand's marketing and distribution strategies. In the following years, the trademark and business were sold to Roy Megargel, a Wall Street broker, who partnered with Charles Guth, the president of Loft, Incorporated. Guth's involvement was crucial as he had experience in the candy manufacturing industry, which provided him with insights into consumer preferences and marketing tactics. Under their leadership, Pepsi began to gain traction in the competitive soft drink market. The acquisition and subsequent management changes were instrumental in transforming Pepsi from a struggling product into a well-recognized brand, ultimately leading to its growth and expansion in the beverage industry.