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Coke mulls Odwalla buy
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October 22, 2001: 10:30 a.m. ET
Soft drink maker, Odwalla in talks, but financial terms unknown, report says.
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NEW YORK (CNNmoney) - Coca-Cola Co. is in talks to acquire Odwalla Inc., a producer of premium refrigerated juices, according to a press report Monday.
Odwalla (ODWA: up $3.25 to $10.05, Research, Estimates), whose products include a line of natural juices, smoothies and shakes, makes dairy-free OdwallaMilk, which blends soy, rice and oat milks. The company, based in Half Moon Bay, Calif., also owns Fresh Samantha juices.
Financial terms were not disclosed.
In July, 20-year-old Odwalla reported fiscal third-quarter income of $865,000, or 8 cents a share, down from $1.1 million, or 16 cents a share, a year earlier. News of the deal caused Odwalla shares to surge nearly 42 percent Monday morning while Coke (COKE: up $0.61 to $38.00, Research, Estimates) remained unchanged.
Coke declined to comment. Despite repeated attempts, Odwalla could be reached for comment.
Purchasing Odwalla would help Atlanta-based Coke boost its noncarbonated beverage segment, the Wall Street Journal said. Coke lost out in its bid to buy Quaker Oats, the maker of Gatorade sports drink, when PepsiCo bought Quaker for $13.8 billion earlier this year. 
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