Judge puts price tag of $2bn on AriZona iced tea brand
In a long-running dispute over the value of AriZona iced tea brand, a New York state judge ruled that the privately held company behind it was worth about $2 billion when the lawsuit to dissolve the company was filed back in 2010. The dispute centered around the valuation of a 50 percent stake in AriZona, with estimates ranging from $447 million to $3.2 billion from opposing sides. The estranged co-owner, John Ferrolito, is now expected to pocket about $1 billion for his 50 percent stake in the business, although the court would consider the risk of insolvency in setting terms and conditions of the payout. AriZona commands about a quarter of the US iced tea market, ahead of Snapple and Lipton.