Initiative beat out the incumbent, WPP Group's Mediaedge:cia, and Interpublic siblings Martin Agency and Mullen. Martin pitched the account through its Ingenuity Media unit and Mullen pitched through its MediaHub unit.
Roth Associates conducted the review, which only affected the beverage brands and did not include the company's Cadbury Adams confectionary business. Creative, handled by WPP's Y&R, was not affected.
Cadbury, based in Plano, Texas, counts Dr Pepper, Snapple, Mott's and Sunkist among its beverage brands.
This is the second big win for Initiative this month. Earlier, the agency won media duties for Hyundai Motor America's Hyundai and Kia brands, an account valued at $735 million.
"We're just thrilled that the work we've been doing in 2007 has been recognized in terms of the potential that we offer both of those clients," Richard Beaven, CEO, Initiative, North America, said of the two wins. "We put a lot of effort into thinking how we can best deliver to clients in a world that is changing so quickly."