Coca-Cola Obtains Share of Honest Tea

Coca-Cola Obtains Share of Honest Tea

Coca-Cola Obtains Share of Honest Tea

The Coca-Cola Company and Honest Tea Inc. have completed an agreement resulting in Coca-Cola holding approximately 40 percent interest in the fast-growing maker of certified organic beverages, including the best-selling Honest Tea. Coca-Cola may elect to buy, and the remaining Honest Tea shareholders may elect to sell to Coca-Cola, the outstanding interest not currently owned by Coca-Cola in the future. “As more consumers become aware of how their decisions impact the health of the planet and themselves, we are thrilled to receive this investment from the world’s largest beverage company to help take our brand and our mission to a larger scale and wider audience,” says Seth Goldman, co-founder and TeaEO, Honest Tea. The strategic opportunity was identified by Coca-Cola North America’s Venturing and Emerging Brands (VEB) Business Unit. “Honest Tea is on the forefront of the rapidly growing organic beverage business, and Seth Goldman and his management team have successfully anticipated and met consumer needs in this expanding category,” says Deryck van Rensburg, president and general manager, Venturing and Emerging Brands, Coca-Cola North America. “This transaction is a superb example of our mission in VEB to seek out and invest in the best beverage entrepreneurs and the highest growth-potential beverages.”