John Ferolito
John Ferolito | |
|---|---|
| Born | United States |
| Occupation | Businessman |
| Years active | 1970s–present |
| Known for | Co-founder of Arizona Beverage Company, creator of AriZona Iced Tea |
John Ferolito is an American businessman and co-founder of the Arizona Beverage Company, widely recognized for its signature offering, Arizona Iced Tea.
AriZona Iced Tea
During the 1970s, Ferolito joined forces with Don Vultaggio to establish a discount beer and soda delivery service based in Brooklyn. They began operations with a secondhand Volkswagen bus and gradually expanded their fleet with additional vehicles. Their initial product range included malt liquor and flavored seltzer drinks. The launch of AriZona Iced Tea occurred in 1992, eventually becoming the company's leading product.
AriZona buyout
After disagreements arose between the co-founders, a 2012 court decision favored Vultaggio, granting him the right to purchase Ferolito's 50% stake in the company. Ferolito had intended to sell his share to prominent global beverage corporations. Legal representatives for Vultaggio referenced a 2007 valuation of $430 million for the company, whereas Ferolito valued Beverage Marketing USA Inc. at as much as $6 billion.
Golfgate incident
Living in the Short Hills neighborhood of Millburn, New Jersey, Ferolito was involved in a lawsuit stemming from an incident in 1994 at East Orange Golf Course. He accidentally hit another golfer with a mulligan shot. The injured individual contended that such a stray shot was not an inherent risk associated with playing golf, thereby disputing the usual assumption of risk linked to sports-related injuries.