Coca-Cola to buy Glaceau for $4.1 billion -Buyout of Vitaminwater maker to boost earnings in first full year
By William Spain & Sarah Turner
MarketWatch
The blue-chip bottler - The Coca-Cola Company will acquire the full range of privately held Energy Brands' products, including Vitaminwater, Smartwater, Fruitwater and Vitaminenergy.
The deal is expected to add to Coca-Cola's earnings per share in the first full year following completion, while nipping 1 cent to 2 cents off this year's profit. The deal has been approved by the boards of both companies but is still subject to regulatory review.
"Glaceau has built a great business with high-quality growth, as well as a strong pipeline of innovative products and brands," Coca-Cola Chairman and Chief Executive Neville Isdell said in a statement.
The acquisition will provide Coca-Cola with a strong foundation from which to develop "active-lifestyle beverages," the company said, adding that the Glaceau deal's likely to bring "immediate, high-quality growth."
As sales of carbonated soft drinks have sagged, the Atlanta-based beverage behemoth has been trying hard to develop or acquire water, tea and juices as well as energy- and sports-drink brands. See: Coca-Cola to buy Glaceau for $4.1 billion
No comments:
Post a Comment