The Coca-Cola company and its Australasian bottler Coca-Cola Amatil has been given the go-ahead by the New Zealand Commerce Commission to acquire the country's Rio Beverages for $NZ40m. Completion of the deal is expected in two weeks.

CC Amatil managing director Mr Terry Davis said: "The acquisition will not only benefit the Coca-Cola system in New Zealand, but, given the unique positioning of the Rio brands, some of the brands are also relevants in CCA's other markets, particularly the lifestyle beverage segment in Australia."

Commission chairman John Belgrave said his board was satisfied the proposed acquisitions would not, nor would be likely to, substantially reduce competition in any of the affected markets. Rio's brands include Rio Gold and Keri fruit juices, the e2 lifestyle beverage, Thextons fruit juice drink, Ikon energy drink and Kiwi Blue mineral water.