Coca-Cola to buy Glaceau for $4.1 bn
Vitamin water maker Glaceau, also known as Energy Brands Inc, is 30 pc owned by Tata Tea Ltd.
By PTI |
NEW YORK: Coca-Cola company on Friday said it would acquire Glaceau for $4.1 billion in cash to gain a foothold in the fast-growing enhanced water market.
Vitamin water maker Glaceau, also known as Energy Brands Inc, is 30 per cent owned by Tata Tea Ltd. It is the No 2 maker of enhanced water behind PepsiCo Inc's Propel.
Coca-Cola said the deal would add to its earnings per share in the first full year after the agreement is completed.
The world's largest beverage company said it would offer Glaceau's vitamin water in North America, but added that the brand had attractive longer-term international opportunities as well.
Glaceau will operate as a separate business unit within Coca-Cola North America, and its top three executives -- Darius Bikoff, Mike Repole and Mike Venuti -- plan to continue leading it for a minimum of three years, the companies said.
Atlanta-based Coca-Cola, which is seeking to bolster its portfolio of noncarbonated beverages in the face of slowing soft drink sales in its home market, said it expected the deal to close this summer.
Vitamin water maker Glaceau, also known as Energy Brands Inc, is 30 per cent owned by Tata Tea Ltd. It is the No 2 maker of enhanced water behind PepsiCo Inc's Propel.
Coca-Cola said the deal would add to its earnings per share in the first full year after the agreement is completed.
The world's largest beverage company said it would offer Glaceau's vitamin water in North America, but added that the brand had attractive longer-term international opportunities as well.
Glaceau will operate as a separate business unit within Coca-Cola North America, and its top three executives -- Darius Bikoff, Mike Repole and Mike Venuti -- plan to continue leading it for a minimum of three years, the companies said.
Atlanta-based Coca-Cola, which is seeking to bolster its portfolio of noncarbonated beverages in the face of slowing soft drink sales in its home market, said it expected the deal to close this summer.
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