US: Coke looks at buying Snapple
In an interview with Reuters yesterday (4 July), the company said that owning a tea brand was certainly something it was interested in doing, whether that meant buying or building something similar to the Snapple brand.
Coke CEO Neville Isdell said: "We're always looking at whether to build or buy, That is a valuation that we undertake - whether it (Snapple) is of interest to us or whether we can do it on our own."
Recently, 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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