Coca-Cola president T Krishnakumar said that the company is ‘interested’ in the dairy space, but added he would not comment further on whether Coca-Cola has placed a bid to acquire GSK Consumer’s Horlicks milk food drink brand, which is on the block. “I can comment on what the company is doing in terms of organic growth. Beyond that I cannot comment,” he said at a media roundtable. The maker of Coca-Cola and Thums Up, Minute Maid juice and Kinley water ended the April-June 2018 quarter with double digit volume growth, which it said was its fourth consecutive quarter of double-digit revenue growth and second back-to-back quarters of double-digit volume growth, with the core sparkling portfolio also growing in double digits.
Apart from Horlicks, Kraft Heniz’s Complan health drink is also up for sale. Krishnakumar declined comment on whether Coca-Cola was bidding for either of the two brands, saying that it was speculation. In June, Coca-Cola had mandated Citi to help it in the bidding process, which other firms such as ITC and Hindustan Unilever are also learnt to be considering. Coca-Cola has been broad basing its portfolio to include juice and juice drinks, flavoured waters and dairy-based beverages and tea in line with rapidly changing consumer preferences.
Source : The Economic Times
Published on: August 14, 2018