FoodLogistics.com |

Hong Kong: The Coca-Cola Co. announced today its intention to make cash offers to purchase China Huiyuan Juice Group Ltd, a Hong Kong listed company which owns the Huiyuan juice business throughout China.

The Coca-Cola business in China has been operating since 1979 with brands such as Coca-Cola, Sprite and Fanta.

"Huiyuan is a long-established and successful juice brand in China and is highly complementary to the Coca-Cola China business," says Muhtar Kent, president and CEO of The Coca-Cola Co. "This acquisition will deliver value to our shareholders and provide a unique opportunity to strengthen our business in China, especially since the juice segment is so dynamic and fast growing in China."

If successful with the offer, the company will use its expertise as a global beverage company to further develop the Huiyuan brand to address the evolving needs of consumers. The company says there are anticipated synergies that will drive operational efficiencies, particularly in the Huiyuan business' production footprint and in Coca-Cola's distribution and raw material purchasing capabilities.

Assuming full acceptance of the offers, the deal is valued at approximately US$2.4billion.