GERMANY: Coca-Cola silent on Bionade takeover rejection
The Coca-Cola Co. has stayed silent on reports that it has had a takeover bid for German soft drinks company Bionade rejected.
Local reports today (12 September) have claimed that Bionade turned the offer down as it preferred to remain a family-owned company. Although the amount Coca-Cola offered Bionade was not disclosed, the German firm's executive director Peter Kowalsky was cited as saying that the offer had been worth "hundreds of millions of euros".
Chief marketing officer and associate partner Wolfgang Blum was cited in the reports as saying: "This company is our baby and babies are not sold. There is so much more we want to do. We are just starting and we intend to remain an independent company. This is a family-owned company and it will stay as one."
When contacted by just-drinks today, a spokesperson at Coca-Cola declined to comment on the reports. No-one was immediately available for comment at Bionade.
Based in Ostheim, Bionade produces organically-manufactured soft drinks. The company was formed in 1995, and is now looking to expand its operations internationally.
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