Pepsi (PEP) Discontinues Tiger Woods Drink

Today, Gatorade, which is owned by Pepsi (NYSE: PEP), announced its decision to do away with the Gatorade Tiger Woods drink. Gatorade has denied the rumor that the decision was taken in response to controversy surrounding Tiger Woods' personal life.

Apparently, this decision was first reported by trade publication ‘Beverage Digest’ on November 25. The Tiger Woods incident took place two days later on November 27. The Gatorade Tiger Woods drink was introduced in March 2008 and it accounted for less than 5% of Gatorade’s total volume. The drink witnessed 34% decline in its sales this year.

A Gatorade/Pepsi spokesperson reiterated that the decision to discontinue the drink was taken several months ago. This decision is likely to benefit rival beverages manufacturer Coke (NYSE: KO).