US: Coca-Cola prepares Honest Tea investment - report
The Coca-Cola Co. is looking to invest in US-based soft drinks company Honest Tea, according to local reports.
Press speculation last week claimed that Coca-Cola is close to making an investment in the Maryland company, which produces soft drinks and juice and water combinations. When contacted by just-drinks today (2 January), a spokesperson for Honest Tea refused to comment on the reports.
A spokesperson for Coca-Cola also declined to comment on the reports to just-drinks today.
With 60 employees nationwide, Honest Tea, which is privately-owned by Seth Goldman and Barry Nalebuff, is set to celebrate its tenth anniversary this year.
A move for Honest Tea would be in keeping with Coca-Cola's moves away from the CSD sector in the US. Last year, the company closed its purchase of Fuze Beverage, which produces a line of enhanced juices and teas and WaterPlus enhanced waters. Also last year, Coca-Cola snapped up vitamin water maker Glaceau in the country.
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