AUSTRALIA: CCA rules out Orchy acquisition - report
Coca Cola Amatil (CCA) has pulled out of its acquisition of Orchy, according to press reports. The Australian Financial Review reported yesterday that CCA was no longer looking at buying the fruit juice business, citing unnamed industry sources.
In the report, Orchy's owner Keith Harris & Co has been told by CCA that it was planning to acquire larger juice acquisitions or build its own business. CCA would do this by using its own brands or those of its US-based parent company, Coca-Cola Co.
The report quoted a director at Keith Harris, Peter Robinson, as saying that Orchy was now in negotiations with other unlisted beverage companies about the sale of the business.
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