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Dr Pepper Snapple Group Renews Dr Pepper Museum Challenge Grant

Stocks in this article: DPS

Dr Pepper Snapple Group (NYSE:DPS) today announced its continued support of the Dr Pepper Museum’s fundraising efforts by offering to match donations dollar-for-dollar up to $100,000 a year for five years. Through the Dr Pepper Museum Challenge Grant, DPS and the museum hope to raise $1 million by the end of 2017.

“The Dr Pepper Museum plays a special role in housing the legacy and history of Dr Pepper and many other DPS brands,” said Tina S. Barry, executive vice president of corporate affairs for Dr Pepper Snapple Group. “We are proud of our long-standing support of the museum and all it does to celebrate the rich heritage of the soft drink industry, and we are looking forward to this challenge grant helping provide an even better experience for the thousands of annual visitors.”

“The Dr Pepper Museum thrives on the generosity and fundraising efforts of Dr Pepper fans and soft drink enthusiasts alike,” said Jack McKinney, executive director, Dr Pepper Museum and Free Enterprise Institute. “DPS has been instrumental in that effort, and we are excited about this challenge grant and what we hope to accomplish through these fund-raising efforts over the next five years.”

DPS has a long-standing history of supporting the Dr Pepper Museum. Through its most recent challenge grant, DPS and museum benefactors together raised more than $1.5 million. A portion of the funds helped grow the museum's endowment and build a connector between the Artesian Manufacturing and Bottling Company Building and the museum's East wing. Additional funds were used to renovate 10,000 square feet of floor space in the East wing, adding classrooms, a boardroom and administrative office space. The transfer of many of the museum's activities to the East wing has opened up additional exhibit space in the original museum building.

Dr Pepper was invented in 1885 in Waco, Texas, and is America's oldest major soft drink. As the historic home of the brand, the Waco museum plays a special role in helping preserve the history of Dr Pepper and other soda brands. Originally opened to the public in 1991, the museum today educates and entertains the general public through the collection, preservation, interpretation and exhibition of objects relevant to the history of the soft drink industry. The museum houses more than 100,000 artifacts and attracts more than 60,000 visitors each year.

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