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