ARGENTINA: Coke ups juice market share
Coca-Cola Co. has increased its presence in the Argentine juice market. The drinks company announced yesterday that it has purchased a group of juice brands in the country from a local company controlled by a US investment fund.
Coke has bought the Cepita, Carioca and Montefiore brands from Penaflor, an Argentine winery held by private equity fund Donaldson, Lufkin & Jenrette, which is itself owned by Credit Suisse Boston.
No value for the acquisition was released.
A spokeswoman for Coke said the company is preparing a business plan for its new juice products, but was not ready to announce its plans yet.
Prior to the acquisition, Coke's juice market ownership was limited to Hi-C with a 5% market share. Penaflor holds 6.5% of the Argentine juice market, according to Coke's data.
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