US: Coca-Cola closes Fuze purchase

By | 27 March 2007

The Coca-Cola Co. has completed its purchase of Fuze Beverage in the US.

Private equity firm Castanea Partners, which invested in Fuze in 2004, confirmed the closure of the transaction yesterday (26 March). Coca-Cola received US regulatory clearance for the purchase, for an undisclosed sum, late last month.

"Castanea joined us at a critical time in our development and really contributed to our success," said company founder and CEO, Lance Collins. "They understood our industry and repeatedly rolled-up their sleeves to help us tackle important issues. We were looking for a value-added partner and they certainly delivered."

Brian Knez, a managing partner at Castanea, added: "Lance and his team have done an outstanding job building the Fuze brand through creative grassroots marketing, improved distribution, and continuous product innovation."

Fuze's range includes a line of enhanced juices and teas and WaterPlus enhanced waters. The deal will also see Coca-Cola attain the license for Fuze's NOS energy drink brand.

Fuze will continue to operate as a stand-alone entity of Coca-Cola, the Atlanta-based soft drinks giant said.

Sectors: Soft drinks, Water

Companies: Fuze, Coca-Cola Co

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