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Coca-Cola Acquires Value-Added Dairy Products Company

By Donna Ahern
Coca-Cola Acquires Value-Added Dairy Products Company

The Coca-Cola Company has announced that it has acquired 100% stake in Fairlife LLC, a Chicago-based manufacturer of value-added dairy products, for an undisclosed amount.

Coca-Cola had previously acquired a 42.5% stake in Fairlife and supported the distribution of its products across the country.

Fairlife LLC first launched in 2012 with a high-protein milkshake, Core Power.

“We set out in 2012 to harness the power and nutrition of dairy and give people great-tasting products that provide the nutrition they are looking for," said Tim Doelman, CEO, Fairlife.

Over the years it added more products to its portfolio in North America.

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"Our innovative product lines will continue to grow and improve with the strength and scale of The Coca-Cola Company.” He added.

Portfolio Transformation

The beverage company, currently offers over 500 brands in more than 200 countries and territories.

The Coca-Cola Group is constantly transforming its portfolio, from reducing sugar in our drinks to bringing innovative new products to market, it said in a statement.

"fairlife is a great example of how we are continually expanding our total beverage portfolio to bring people more of the brands they love," said Jim Dinkins, President of Coca-Cola North America.

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"This agreement will help ensure that we continue to build on fairlife’s innovative history by combining their entrepreneurial spirit and innovation capabilities with the resources, reach and expertise of Coca-Cola."

Stand-Alone Business

The drinks giant said that fairlife will continue to operate as a standalone business.

The Coca-cola company said that value-added dairy products have seen steady growth in the United States, compared to the traditional fluid milk category.

© 2020 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click subscribe to sign up for the Checkout print edition.

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