Originally published July 5, 2007 at 12:00 AM | Page modified July 5, 2007 at 2:01 AM
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ShareCoca-Cola considers acquiring Snapple tea brand
Coca-Cola is exploring whether to buy Cadbury Schweppes' Snapple iced-tea brand or build its own tea brand, a spokesman said Wednesday. "We're always looking at whether...
The Associated Press
ATLANTA — Coca-Cola is exploring whether to buy Cadbury Schweppes' Snapple iced-tea brand or build its own tea brand, a spokesman said Wednesday.
"We're always looking at whether to build or buy," spokesman Dana Bolden said, confirming a comment by Chief Executive Neville Isdell to a reporter during a social-economic conference in Geneva.
Bolden declined to say if Coca-Cola has approached private-equity funds that have reportedly been involved in bidding for Cadbury's U.S. drinks business, which includes the Snapple brand.
Cadbury Schweppes, which is based in Britain, said in March that it planned to split, separating its confectionery and soft-drinks businesses, as it apparently bowed to pressure from investors led by U.S. billionaire Nelson Peltz.
Last month, Coca-Cola completed its $4.1 billion purchase of Glaceau, maker of Vitaminwater. Glaceau, also known as Energy Brands, was Coke's largest acquisition ever.
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