In the past, several people did just this with the Kellogg's products - both cereal and Eggos. The typical MO (particularly with the Eggos) was to buy the pallet, and then donate the product to a food bank (though there was at least one person who sold the cereal for a very cheap price on eBay).

There's at least one person on FT who has been doing the same thing with the water - buying the Dannon water en masse, then reselling the water at a discount (and then selling the mile certificates on eBay).

Mike