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Coca Cola buys out Honest Tea; co-founder discusses buyout

It’s been a week since Coca-Cola Co has invested in Honest Tea and taken over its ownership. Now the company is discussing its plans for growth. The Maryland-based company wants to use Coca-Cola's PlantBottle technology, which uses up to...
 Coca Cola buys out Honest Tea
 
 

It’s been a week since Coca-Cola Co has invested in Honest Tea and taken over its ownership. Now the company is discussing its plans for growth. The Maryland-based company wants to use Coca-Cola's PlantBottle technology, which uses up to 30 percent plant material, to package organic teas. It also may start making its beverages at additional Coca-Cola facilities in California.

One of the new products consumers can expect from Honest Tea is a drink called CocoaNova, brewed from cocoa beans, and a zero-calorie organic lemonade sweetened with stevia. The new 12-ounce bottles are conducive for creating opportunities to sell to high school students via vending machines, where beverage industry standards call for bottles of that size. As well as the workload calling for that amount of caffeine.

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"When we add our mission to Coke's resources and capabilities, we can step it up a notch," Honest Tea co-founder Seth Goldman said after talking to employees at Coca-Cola's North Avenue headquarters.

After purchasing 40 percent in 2008, Coca-Cola bought the remaining 60 percent of Honest Tea this week. Goldman will continue to run the company on a day-to-day basis.
"The right model is to have Seth involved," said Deryck van Rensburg, Coca-Cola's president and general manager of Venturing and Emerging Brands.

What a concept, combining the caffeine of coke and tea in the same outfit, that’s a whole lot of energy brewing there!



 



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