Quaker Acquired Snapple
In 1994 Quaker, the major oatmeal empire, acquired Snapple, a popular iced-tea company that sold flavored drinks like raspberry, kiwi strawberry and more. The acquisition cost Quaker $1.7 billion and was considered a major mistake. This became evident when other beverage companies rose to the top and gave Snapple a run for its money. So, Quaker eventually sold Snapple for $3 million in 1997, taking a 1.4 billion loss on their original deal.