Coca-Cola Powers Up With Protein Drink Stake

The company is looking for healthier alternatives to soft drinks

   

Coca-Cola Powers Up With Protein Drink Stake

Coke Coca Cola 300x199 Coca Cola Powers Up With Protein Drink StakeCoca-Cola (NYSE:KO) said on Tuesday that it will partner with Select Milk Producers, a dairy farm cooperative, to acquire a stake in Fair Oaks Farms Brands, which makes Core Power protein milkshakes.

The move strengthens Coca-Cola’s presence in the milk-based drink market. The company began distributing Core Power drinks two months ago in 12 markets, the Associated Press noted.

Coke Coca Cola bottles pop 630 flickr 200x200 Coca Cola Powers Up With Protein Drink Stake
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Dairy-based drinks have become an area of intense competition between Coca-Cola and traditional soft-drink rival PepsiCo (NYSE:PEP) as the companies look to alternative, healthier beverage products in the face of declining soda consumption in the U.S.

Coca-Cola did not reveal the size of its stake in Fair Oaks Farms Brands.

In the past several years, Coca-Cola has moved to expand its line of drink products, adding Minute Maid juice, Dasani water and Powerade sports recovery beverages. In the third quarter, Coca-Cola’s North American soft drink sales volume was flat compared to last year, while overall beverage sales in the region rose 2%, driven by non-soda drinks.

Shares of Coca-Cola rose fractionally in pre-market trading on Wednesday.


Article printed from InvestorPlace Media, http://investorplace.com/2012/12/coca-cola-powers-up-with-protein-drink-stake/.

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