Norwalk, Conn.-based Diageo purchased super-premium tequila brand Peligroso from California-based Peligroso Spirits Co. LLC. This announcement comes three weeks after the company announced a joint venture with rap artist and entrepreneur Sean “Diddy” Combs to acquire the luxury tequila brand DeLeón.

Premium bottled water brand NY2O, New York, joined the Partnership for a Healthier America (PHA) to support the Drink Up initiative, which encourages people to drink more water more often.

Core Power, a brand of Chicago-based fairlife LLC, signed on as the national sponsor and official protein drink of the 2014 Reebok Spartan Race, a global obstacle race series. The partnership pairs two companies committed to providing athletes and active individuals with tools and experiences designed to enhance sports performance.

This spring, Heineken USA’s Dos Equis brand will leverage the success of its 2013 Dos de Mayo program by inviting consumers of legal drinking age to take a new path and discover more interesting and more meaningful celebrations leading up to the Cinco de Mayo holiday on May 5.

Phusion Projects, Chicago, introduced a new flavor to its Four Loko line of flavored malt beverages.

Lifeway Foods Inc., Morton Grove, Ill., released its preliminary sales results for the fourth quarter and full year that ended Dec. 31, 2013.

Anheuser-Busch InBev (AB InBev), Leuven, Belgium, announced that it will re-acquire Oriental Brewery (OB), a leading brewer in South Korea, from New York-based Kohlberg Kravis Roberts & Co. L.P. (KKR) and Hong Kong-based Affinity Equity Partners for $5.8 billion.

Taco Bell Corp., a subsidiary of Louisville, Ky.-based Yum! Brands Inc., announced that it has taken its PepsiCo partnership to the next level by introducing six new beverage offerings.

Silicon Valley Bank, a provider of commercial banking services to the innovation sector and the wine industry, released its “Annual State of the Wine Industry Report,” which forecasts growth of U.S. wine for 2014 but a decline in future years.

St. Louis-based Anheuser-Busch, a subsidiary of Anheuser-Busch InBev (AB InBev), announced that it will debut five ads during the Super Bowl XLVIII broadcast on Fox on Feb. 2. The company’s Bud Light and Budweiser brands will be featured in 3.5 minutes of game-time commercials.