Hicks & Haas plans to acquire Squirt.
The investment company that recently bought Dr Pepper Co. and Seven-Up said it is leading a group of investors in the purchase of the U.S. franchise operations of Squirt. The purchase, upon completion, would be the fourth this year for the group led by Thomas Hicks and Robert Haas. Terms of the acquisition were not disclosed. Squirt, the Holland, Mich.-based maker of a grapefruit soft drink, will be merged with A&W; Brands operations, Hicks said.