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.
fairlife LLC commenced operations in 2012 with a high-protein milkshake, Core Power. Over the years it added more products to its portfolio in North America.
Coca-Cola had previously acquired a 42.5% stake in fairlife, and supported the distribution of its products across the country.
President of Coca-Cola North America, Jim Dinkins, said, "fairlife is a great example of how we are continually expanding our total beverage portfolio to bring people more of the brands they love.
"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 dairy products company will continue to operate as a standalone business, the cola giant said in its statement.
Commenting on the acquisition, fairlife CEO, Tim Doelman, said, "We are excited for the next chapter of fairlife’s growth and innovation and look forward to continuing to work with our partners across the Coca-Cola system to meet fast-changing consumer needs in a vibrant category.
Value-added dairy products have seen steady growth in the United States, compared to the traditional fluid milk category, the company added.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.
