Dr Pepper Snapple to buy Bai Brands for $1.7 billion

Soft-drinks maker Dr Pepper Snapple Group Inc said it would buy Bai Brands LLC, a maker of antioxidant beverages, for $1.7 billion in cash.

The purchase price includes a tax benefit of about $400 million on a net present value basis, Dr Pepper Snapple said on Tuesday.

Dr Pepper Snapple bought a minority stake in Bai last year and is one of the company's "Allied Brands," which are healthy-drinks companies that it distributes through its network.

Reuters reported in October that Dr Pepper Snapple was in talks to acquire Bai Brands.

(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Savio D'Souza)