US: Coke confirms Glaceau deal
Coca-Cola Co. has confirmed it will buy vitamin water maker Glaceau in a move that will expand its non-carbonated beverage line.
The soft drinks company confirmed today (25 May), that the US$4.1bn deal has been approved by the boards of both companies.
Speaking today (25 May), Coca-Cola chairman and CEO Neville Isdell said: "Glaceau has built a great business with high-quality growth, as well as a strong pipeline of innovative products and brands. We envision even faster growth for Glaceau as part of Coca-Cola's enhanced range of brands for North American customers and consumers."
Coca-Cola president and COO Mutar Kent added: "It sharpens even further our existing focus on re-establishing sustainable growth in our home market, strengthening our system, and leveraging acquisition opportunities to gain speed and capabilities in key categories.
Glaceau, formally known as Energy Brands, will operate as a separate business unit within Coca-Cola North America, and its top three executives plan to lead the business for a minimum of three years after the deal closes.
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