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China/US: Coke to buy China drinks maker for $400 million

By  |  April 19, 2015

Coca-Cola has agreed to buy the beverage business of China Culiangwang Beverages Holdings for $400.5 million including debt, to get a foothold in the fast growing multi-grain drinks category.

The deal marks Coke’s first takeover in China since the country’s antitrust regulator blocked its bid to buy local fruit juice maker Huiyuan in 2010.

Following the disposal of the beverage business, China Culiangwang will continue to develop its consumer products business, the company said in a stock exchange statement. The sale is subject approval from Chinese antitrust approvals.

“The proposed acquisition is in line with Coca-Cola China’s strategy to continue providing a diverse range of beverage products to Chinese consumers with plant-based protein drinks representing a growing beverage category in China,” Coke said in a statement.

 

Full Content: International Business Times

 

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