US: Coca-Cola silent on Snapple buy-up talk
The US-based drinks giant was responding to reports late last week that it would be in the running for the brand. A trade publication cited several Coca-Cola sources as saying: "Coke might be interested - or in words of some, should be interested - in buying Snapple to beef up its tea business."
Speaking to just-drinks today (26 June) a spokesperson for Coca-Cola said: "We will not talk about this."
Last week, UK-based Cadbury Schweppes said that it will probably sell off its US drinks business. Three groups are thought to be in the running for the unit - Blackstone, Kohlberg Kravis Roberts and Lion Capital are believed to make up one consortium, while another consists of Bain Capital, Texas Pacific and Thomas H Lee. A third possible group, made up of Canada's Cott Corp. and other private equity groups, is also thought to be looking to bid.
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The Coca-Cola Co. is not planning to find a replacement chief operating officer following last week's reshuffle announcement....
US soft drinks group Thomas Kemper Soda has appointed Brett Zinkel as director of sales....
The Coca-Cola Company has extended its sponsorship agreement with NASCAR in the US by a further 10 years....
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