The Coca-Cola Company is acquiring multi-grain drink company China Culiangwang Beverages Holdings Ltd for $400.5m.
“The proposed acquisition is in line with Coca-Cola China’s strategy to continue providing a diverse range of beverage products to Chinese consumers with plant-based protein drinks representing a growing beverage category in China,” Atlanta-based Coca-Cola told Reuters in a statement.
China Culiangwang Beverages is the parent of Cu Liang Wang branded beverages and food products, which have brought in $31m in profit so far in 2015, Reuters reported.
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