NEW YORK (CNN/Money) -
Coca-Cola Co. said Tuesday it will acquire Seagram's mixers business from Diageo and Pernod-Ricard for an undisclosed amount, adding Seagram's ginger ale, tonic, club soda and seltzer drinks to its large family of non-alcoholic beverages.
Seagram's mixers are available mainly in the U.S. and Mexico, where Coke is seeking to expand its product in the category.
"Seagram's is a natural fit and complements our existing brands in North America," Coca-Cola North America Chief Operating Officer Jeffrey Dunn said.
Coke (KO: up $0.13 to $56.72, Research, Estimates) said its bottling partners currently distribute more than 75 percent of Seagram's U.S. mixers volume.
|
Related Stories
| |
| |
| | |
|
British beverage maker Diageo and France's Pernod-Ricard jointly bought Seagram's beverage assets from Vivendi Universal (V: down $0.62 to $27.64, Research, Estimates) for $8.15 billion last December.
|