Nantucket Nectars
Nantucket Nectars is a beverage company created by Tom First and Tom Scott, who met at Brown University in 1985 and after graduation began a small business selling a variety of items to yachts in Nantucket, Massachusetts.[1][2] Eventually they began selling juice blends, which was originally inspired by a peach drink Tom First had while on a visit to Spain. Today the brand is owned by Dr Pepper Snapple Group and offers drinks in several different flavors.
The beverage is most commonly sold in 16 fluid ounce glass bottles. The bottle caps feature information about Nantucket Harbor and the history of Nantucket Nectars.[3]
The success of "Tom and Tom," as the business duo became known, has become a piece of modern business lore. The company was featured on the Inc. 500's list of 500 fastest growing U.S. companies for five years in a row. The story of how Scott and First grew their brand is the subject of a popular Harvard Business School case study, which was published in 1998 by Jon Biotti, Joseph Lassiter, William Sahlman.[4]
History
After graduation, Tom and Tom headed to Nantucket where they started Allserve, a floating convenience store servicing boats in Nantucket Harbor, delivering everything from newspapers to laundry.[5] In 1989, First attempted to recreate a peach drink that he drank on a regular basis while on a trip to Spain for a Nantucket cooking competition.[6] After successfully re-creating the taste, the two began mixing the juice in a blender, pasteurizing it, and bottling it themselves for sale on their boat. Their juice was originally sold for $1 from recycled wine bottles.[6] It was not until later that they decided to call it Nantucket Nectars.
One of their first big investors was Michael Egan, who was involved in turning around the Alamo Rent a Car business.[7] They reported $1 million in sales in 1993, $6 million in 1994, and $15 million in 1995.[6] In 1994, they decided to focus solely on creating and selling their juices.[8] The business then moved to Cambridge, Massachusetts.
Ocean Spray purchased an 80% stake in Nantucket Nectars in 1997[9] and then sold to London-based Cadbury Schweppes PLC in 2002.[10] The brand is currently owned by Plano, TX-based Dr Pepper Snapple Group.[11] The founders are no longer involved in the day-to-day operations, but still perform marketing duties and voice the radio ads. On radio and for other advertisements, Tom and Tom often refer to themselves as the "Juice Guys".
Flavors
Nantucket Nectars come in a variety of different flavors. These include:
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See also
References
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