Coca-Cola has acquired the US milk beverages brand Fairlife from its joint venture partner Select Milk Producers for an undisclosed sum.
The soft drinks giant has previously had a 42.5 percent minority stake in the brand which offers a broad portfolio of products in the fast-growing value-added dairy category in North America.
“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,” said Tim Doelman, chief executive of Fairlife.
Launched in 2012, Fairlife has surpassed $500 million in retail sales last year, according to Nielsen figures. It will continue to operate as a stand-alone business based in Chicago.
“Fairlife is a great example of how we’re continually expanding our total beverage portfolio to bring people more of the brands they love,” said Jim Dinkins, president of Coca-Cola North America.
“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.”