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Coca-Cola, the American beverage company, announced on Friday it had bought Mad River Traders, a maker of tea, juice and soft drinks, based in Connecticut, the Financial Times reports.
This acquisition is the latest move by Coca-Cola into new beverage markets in search of growth. Coke has already announced joint ventures with Nestlé to sell ready-to-drink teas and coffees and a joint venture with Procter & Gamble.
Jeffrey Dunn, Coca-Cola Americas president, said the Mad River deal would introduce new drinks with "tremendous potential" to become a strong growth contributor. The drinks are to be distributed by Coca-Cola Bottling.
Mr Dunn said in most cases, Coke did not carry beverages similar to brands by Mad River. The drinks include Mountain Style teas, lemonades and juice cocktails.
Source: Financial Times