ATLANTA -- The Coca-Cola Co. is taking a bold step into the North American dairy market by partnering with dairy cooperative Select Milk Producers to purchase equity stakes in Fair Oaks Farms Brands LLC, which manufactures the Core Power brand of high-protein milk shakes. Financial terms of the deal were not disclosed.
The Atlanta-based beverage giant began distributing Core Power, which is marketed as a post-workout recovery drink, in select markets earlier this year.
Select Milk Producers is a cooperative of 87 family-owned dairies based in Texas and New Mexico, as well as in the Midwest. It produces more than 6 billion pounds of milk annually.
Coke Rival PepsiCo began selling yogurt in the United States last July though a joint venture with Germany's Theo Muller Group. PepsiCo also owns Wimm-Bill-Dann, Russia's largest dairy company, and has a joint venture with Saudi Arabia's Almarai. | SEE STORY