Coca-Cola adds Honest Tea to portfolio
ATLANTA — Three years after purchasing a minority stake in Honest Tea, an organic bottled tea company, Coca-Cola said it has exercised its option to acquire the remaining portion of the company.
Financial terms of the transaction were not disclosed, but Coca-Cola did note that Honest Tea would continue its operations outside of Bethesda, Md., and will continue to operate as a stand-alone business. Honest Tea will be led by current CEO Seth Goldman, his management team and current Honest Tea employees.
"When we made the investment in Honest Tea, we did so because we saw that it had great potential to be a significant brand of the future. Three years after, the brand truly reflects where consumer demand is today, and we are excited about being on the verge of still more growth,” said Deryck van Rensburg, president and general manager of venturing and emerging brands at Coca-Cola North America.