Coca-Cola (NYS: KO) is boosting its presence in the dairy market, announcing initial plans to get behind the Core Power beverage marketed as a "high-protein muscle recovery drink."
Coca-Cola announced today that it has teamed up with Select Milk Producers to purchase equity stakes in a new limited liability company called Fair Oaks Farms Brands that will manufacture and sell the Core Power brand of high-protein milk shakes and attempt to expand into "an innovative portfolio of brands and products."
Select Milk Producers is a cooperative of 87 family-owned dairies based primarily in Texas, New Mexico, and the Midwest. It produces and markets more than 6 billion pounds of milk annually.
Coke's Coca-Cola Refreshments subsidiary already acts as distributor for Core Power, selling the product as shelf-stable protein shakes.
Financial terms of the deal were not disclosed.
The article Coca-Cola Takes Stake in High-Protein Milk Drink Company originally appeared on Fool.com.Fool contributor Rich Smith has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Motley Fool newsletter services recommend The Coca-Cola Company. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.