What do you get mixing Snapple and Quaker Oats?

A: One larger company.

The Quaker Oats Co. is buying the Snapple Beverage Corp. for a tender offer of $14 a share of Snapple stock, or about $1.7 billion.

The purchase of the Valley Stream, Long Island, NY, maker of flavored iced teas and fruit juices will make Quaker the third-largest non-alcoholic beverage marketer in North America.

Quaker already counts Gatorade among its portfolio of cereals, drinks, crackers, cookies, chili and various mixes. William D. Smithburg, chairman and CEO of Quaker Oats, said the Snapple acquisition is "part of an evolving realignment of Quaker's portfolio."

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