Owners of AriZona iced tea continue court battle over valuation
Owners of AriZona iced tea are looking for a court to determine the valuation of the company, with very different estimates presented by both sides. John Ferolito's camp says AriZona should be valued at $4 billion, which is how much Tata Global Beverages, Nestlé and Coca-Cola were prepared to pay for the company. Tata and Nestlé are reportedly still interested in purchasing the popular iced tea brand. However, Domenick Vultaggio's side disputes this valuation and claims the company is worth just $426 million. The company and its subsidiaries have 1,000 employees and annual sales of $1 billion.