We shared a lot of common dialogue and had similar alignment in our thinking.. You are about to leave this site for an external link. At Essentia, we believe a better you starts with a better water. Previous to Kenneth's current city of Othello, WA, Kenneth Uptain lived in Bothell WA. He remains the companys largest shareholder. And a Car. Scott Miller brings over 30 years of experience in the beverage industry to Essentia, currently serving as the CEO of Tampico Beverages, Inc., a global brand with products sold in 50 countries across the globe. Other brands hes worked with include PEPSI, Snapple, Gatorade and Dr. Pepper, among several others. Alkaline water was gaining popularity in Japan and a handful of other countries around the globe, but it had not yet been introduced to the United States. . Scotts fierce competitor passion is only matched by his passion for a people-first culture and making a difference through giving back. Overview Latest news Net worth summary Biography Relative value At the close of 2013, the company employed just eight people. However, during this time, he had been introduced to something that was helping him regain some of that lost energy alkaline water. Essentia Water announced today that founder and CEO Ken Uptain will be shifting into a new role as the company's Executive Chairman, with Scott Miller . By using our site, you agree to our use of cookies. Check all background information that MyLife has gathered. When I launched the brand in June of 1998, within a year I realized that the product was ahead of its time, and that the consumer wasnt ready for a product like ours, Uptain said. In 2008, Uptain crept back out of his semi-retirement. Social media wall The water didnt sparkle or contain any exotic flavors. Today, Im proud to say that Essentia Water is available in grocery and convenience stores throughout the country. Not surprisingly, Uptain was exhausted. What information about Kenneth are you looking for? Among the companies likely to consider a bid would be Nestle, Danone, PepsiCo and AB InBev, though it is early in the process. The type of people that inspire me are overachievers people that have built something on their own and have done well at it. We like to walk the talk. He saw an opportunity and quickly developed the brand Essentia. Taste Radio Ep. Background, Court records found on Kenneth's Family, In addition to growth, Uptain repeatedly returned to the subject of company culture in discussing Millers appointment. Uptain, now 63, had just retired from a career selling real estate in Seattle. Why The Primal Plan Focus On The Basics And Your Why Works. As a consumer, there are countless options when it comes to choosing bottled water: glacial, spring, mineral, sparkling, flavored, etc. One day, a friend brought me a sample of ionized water. Essentia Water is bottled in suave, black and red 1-liter bottles. Copyright 2023 Stride Consumer Partners. It is likely to catch the eye of the country's biggest beverage brands, they added. Despite the disruption caused by the global COVID-19 pandemic, Uptain said the companys strong performance made him confident that the time was right to make a change in leadership. Check Full Reputation Profile Still, the upstart beverage space has become increasingly competitive. Though it took patience, Uptain said he never lost faith. kmechling@essentiawater.com 150, Get this delivered to your inbox, and more info about our products and services. Water brands that tout special attributes like low acidity or added electrolytes have seen a resurgence in recent years amid the popularity of Coca-Cola-owned Smartwater and Core Hydration, in which Dr Pepper is an investor. The results of Essentias clinical study found that participants who were hydrated using Essentia had a blood viscosity more similar to wine than participants who were hydrated with the leading national brand of bottled water. Beverage companies in 2017 fetched an average valuation of 16 times earnings before interest, taxes, depreciation and amortization, according to Dealogic a six-year high. This personal experience ignited his interest to bring the product to consumers in the US and eventually acquire the rights to use the proprietary . people learn more about others, just like Yelp does for Essentia is the latest upstart beverage brand to put itself up for sale, hoping to take advantage of the big prices large corporations have been willing to shell out for growth they can't create on their own. Every county in the country is covered by someone selling Essentia, Uptain said. Although he likely could write a book on the subject, we asked him to share just three important lessons hes learned as an entrepreneur: When I was younger, I was able to somehow realize that hiring good people actually was one thing I did correctly that was able to make me be successful in my career in real estate I learned that if I felt they were actually really good people with integrity and I could trust them, that was the decision you make as opposed to somebody who has a better deal or is saying they can do bigger and better things.. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. The companys time had arrived and in early 2020, Ken appointed beverage industry veteran, Scott Miller as the companys Chief Executive Officer to lead Essentia through its next major growth stage and brand evolution. In the first quarter of this year, the brand generated $74 million in measured retail sales, compared to $53 million in Q1 2019, with sales up close to 70% in March alone. Were all encouraged to be Owners in our respective areas and disciplines; and not only have I become a subject matter expert, but I can also confidently speak to it. Our mission is to improve lives through Essentia Hydration and inspire people everywhere to do the things that matter most to them. 332 Congress Street, 5th Floor The company is working with Credit Suisse for the sale, the people said. Its Believe+ Corporate Social Responsibility Platform, stands for a commitment to better ourselves, our society and our environment. It is part of the hot "functional water" category, with competitors like Core Hydration and Lifewtr. Were twice as big as the nearest competitor, Uptain said. Uptain discovered that when the product launched, the public wasnt interested in experimenting with their water just yet. That's a big jump from their decline of roughly 6 percent from 2012 to 2013. Learn more about Believe+ which focuses on meaningful contributions to our communities. Unlike their sports drink predecessors, most are low in, or free of, sugar. 2. You have permission to edit this article. I started drinking it, and I felt like this was such a quality product, and it made me feel so much better, Uptain said. to see possibly who they are and full class lists found from school records and public sources. I am fully confident that Scott, who is a seasoned CEO in the food and beverage industry, has the strong experience and track record to achieve this vision and lead the company into its next big growth stage, Uptain said in a press release. Founded by CEO Ken Uptain in 1998, Essentia was one of the earlier water drinks to claim special health benefits. Neal Estano is a meteorologist who works at WNYT, a television station in Albany, New York. Essentia water is currently available in every state in the United States. Speaking with BevNET, Miller said he was humbled, honored and privileged to be joining Essentia. to see complete work history. As far as production, Essentia outsources the work to three bottled beverage co-packers, one each in California, Texas and New Jersey, and is actively seeking additional plant capacity in the Pacific Northwest and the southeast U.S. All Rights Reserved. But its kind of what we do. Every day I am excited to wake up and start the workday. A marker used in evaluating a persons hydration or dehydration level, blood viscosity changes depending on how hydrated a person is. With that funding comes the growing threat of copycats nipping at the hottest brands' heels. It was already viewed Headquartered in Bothell, WA, Essentia Water, LLC pioneered ionized alkaline water in 1998 and is known for its unique ionization process. 220. 2023 CNBC LLC. I make decisions all day long, and my team knows for example that Id make no decision without all the facts. A personal experience of beneficence from consuming ionized . By continuing, you agree to our cookie policy. KeVita, a kombucha drink that claims to improve digestive health, sold to PespiCo in 2016 for an undisclosed amount. At the time, Holsworth, used a machine in his office to make his own alkaline water for his family practice patients. Sign up for free newsletters and get more CNBC delivered to your inbox. Links are provided for reference only and MyLife.com does not imply any connection or relationship between MyLife.com and these companies. In response to this upswing, PepsiCo last year launched premium water brand Lifewtr. By age 22, he had saved up enough money to start his own construction company, and less than 15 years later found himself as the CEO of a successful, international, publicly traded real estate firm. Essentia doesnt release sales numbers, but the company did say it expects to grow 90 percent in the next year. Scott guided and supported its most pivotal point thus far: the acquisition by Nestl USA in March 2021 when Essentia joined its premium water portfolio, strengthening its position for long-term profitable growth. When founder Ken Uptain was first introduced to alkaline water and the ionization technology developed in Japan, he felt an immediate benefit on his body. He has been with the station for over 30 years and is known for his expertise in forecasting the weather in the region. Between traveling and business, when Im not doing those two things, its golf or fishing. At one point I was a construction worker who drank water right out of a garden hose. Overnight on Wall Street is daytime in Asia. So much for retirement. 13 records for Ken Uptain. 2,526 executive movements have been recorded in the last 12 months. Because MyLife only collects this data and does not create it, we cannot fully guarantee its accuracy. 138: How Essentias Ken Uptain Went From Semi-Retired to Stunning Success, Listen to our full conversation with Uptain, who discussed the genesis and development of Essentia, including the impact of a major brand revamp, and why timing has been so critical to its success. The number of investors backing food and beverage start-ups has tripled in four years, according to CB Insights. Im not quick to make a decision until I really digest and think it through.. Essentia Water announced today that founder and CEO Ken Uptain will be shifting into a new role as the companys Executive Chairman, with Scott Miller, CEO of Tampico Beverages, chosen as his successor. For information on sponsored posts, advertising, or our content in general, email articles@usabusinessradio.net. Premium water company Essentia has hired an investment bank to run an auction for the company, sources familiar with the matter told CNBC, and it could fetch $500 million or more in a sale. He launched the Bothell-based Essentia Water the following June, in 1998. The company has grown to the point where it needs more structure than Uptain, who identifies as an entrepreneur, could provide. view. [emailprotected]com. Since the last 747 rolled out of the factory, speculation has been rife that Boeing might move some 737 Max production to Everett. So much for retirement. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. BOTHELL In 1997, Ken Uptain was handed a bottle of water that changed his life. They have also lived in Clearfield, UT and Salt Lake City, UT. So much so that I retired from being semi-retired and started learning everything I could about ionization. And we dont want to say we feel like it hydrates you better unless we can prove it, which we did.. Birth, Age, Ethnicity, Nationality. 7, 2020 at 3:00 pm. This episode is presented by Blue Pacific Flavors. One day, a friend brought me a sample of ionized water. GDPR INFORMATION The founder of Black Forest Mushrooms plans to grow gourmet mushrooms locally, reducing their carbon footprint. I am fully confident that Scott, who is a seasoned CEO in the food and beverage industry, has the strong experience and track record to achieve this vision and lead the company into its next big growth stage.. Over 30 years and is known for his expertise in forecasting the weather in next. And convenience stores throughout the country 's biggest beverage brands, they added people-first culture and making a through... Using our site, you agree to our cookie policy backing food and beverage start-ups tripled... 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