The Coley, which was launched in 2010, was a popular soda brand among millennial fans.
But it also had a reputation for selling questionable coke products.
As coke was increasingly being seen as a more affordable option than Pepsi, co-founder Brian Smith took the company private and sold it in 2014 to Coca-Cola, which acquired it for $1.5 billion in 2016.
Coley co-owner Jim Fennell has spent the last decade working to bring his company back to life, with a focus on health, fitness and the environment.
“When I opened the Coley we sold about 7 million bottles a year,” Fennel told HuffPost.
“It’s a brand that really did get its due.
We had a brand name that we sold and a name that people associated with that brand.
We just did a great job of trying to grow that brand.”
Coley’s success in rebranding its soda and its image helped the company get its stock up more than 2,000 percent during its initial public offering.
But the company has struggled to gain market share, and its sales fell during the recession, leading to a $300 million valuation cut.
Fennelly and co-CEO Kevin Johnson have said the company will sell off its holdings, which include its distribution network and brand, but they haven’t yet made a final decision on how it will do that.