Coca-Cola, Select Milk Producers buy equity stakes in Fair Oaks Farms Brands
The Coca-Cola Company and Select Milk Producers have agreed to acquire equity stakes in health and wellness company Fair Oaks Farms Brands
With this, both the companies aim to drive the growth and expansion of Fair Oaks Farms Brands' lactose- and gluten-free high protein milk shake Core Power.
Available as 26g and 20g protein versions in 11.5oz recyclable plastic bottles, Core Power is currently distributed by Coca-Cola Refreshments in select regions of the US.
Coca-Cola Refreshments president and CEO Steve Cahillane said: "This new investment led by our Venturing & Emerging Brands group is another great example of our ambition to be the best brand, sales and customer service system in North America."
Select co-founder and CEO Mike McCloskey said: "Our leadership in technology, innovation and sustainability within the dairy industry, combined with The Coca-Cola Company's brand development and distribution capabilities will enable a new portfolio of nutritional beverages with strong growth potential."
Formed in 1994, Select Milk Producers is an independent group of 87 American family farmers, which produces and markets over 6 billion pounds of milk annually.