The Coca-Cola Company has acquired the remaining majority stake in value-added milk brand fairlife from its joint venture partner Select Milk Producers.
Although financial details were not disclosed, it has been announced that Coca-Cola now owns 100% of the company, up from its previous 42.5% stake.
fairlife, which launched in 2012 with a high-protein milk shake, will continue to operate as a stand-alone business based in Chicago.
“We set out in 2012 to harness the power and nutrition of dairy and give people great-tasting products that provide the nutrition they are looking for,” said fairlife CEO Tim Doelman.
“Our innovative product lines will continue to grow and improve with the strength and scale of The Coca-Cola Company.”
Value-added dairy products have been growing steadily in the US, in contrast to the traditional fluid milk category, which has been steadily declining.
“fairlife is a great example of how we’re continually expanding our total beverage portfolio to bring people more of the brands they love,” said Jim Dinkins, President of Coca-Cola North America.
“This agreement will help ensure that we continue to build on fairlife’s innovative history by combining their entrepreneurial spirit and innovation capabilities with the resources, reach and expertise of Coca-Cola.”