graphic
News > Deals
Coke adds bottled coffee
January 12, 2001: 2:44 p.m. ET

Soft drink maker acquires New York-based P.J. Bean Co.
graphic
graphic graphic
graphic
NEW YORK (CNNfn) - Coca-Cola Co. will acquire the maker of Planet Java coffee in a move to expand its line of noncarbonated drinks after failing to capture the successful Gatorade brand last month.

A spokeswoman for Coca-Cola confirmed the company will buy P.J. Bean Co. of New York.

Terms of the deal were not disclosed, but Planet Java is a small company formed in 1996 and distributed only in the New York and New Jersey area. Coke said Planet Java will begin to expand to other parts of the country this year.

Planet Java President Larry Trachtenbroit and other staff will remain as consultants.

graphicCoke has been planning an expansion of its product lineup, and the acquisition gives the beverage maker entry into the small but growing segment of noncarbonated beverages.

"The addition of Planet Java is part of an aggressive effort to expand our line of beverages to ensure that if consumers and customers want a particular type of product, we've got it, and more importantly, that we've got the very best brand in that category," said Jeffrey T. Dunn, president of Coca-Cola North America, in a statement.

Coke suffered a blow last month when rival PepsiCo Inc. (PEP: Research, Estimates) acquired Quaker Oats and the coveted Gatorade brand, which dominates the sports drink market.

The Atlanta-based company also lost enhanced juice and tea company Sobe to Pepsi in late October.

Coca-Cola (KO: Research, Estimates) shares fell 69 cents to $56.69 in afternoon trading on the New York Stock Exchange. graphic

  RELATED STORIES

A Coke and a smile? - Dec. 4, 2000

In Focus: Coca-Cola, Quaker - Nov. 20, 2000

  RELATED SITES

Coca-Cola.com

Coca-Cola


Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney




graphic

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.