From the familiar fizz of Coke, to fruit juices and thirst-quenching bottled waters, Coca-Cola is constantly expanding its beverage portfolio to provide consumers more choice.
In China, plant-based protein drinks made from high-quality agricultural sources including green beans, red beans and walnuts will join the company’s lineup of diverse flavors. Plant-based protein drinks are very popular in China, and the category is quickly growing.
This is thanks, in part, to Coca-Cola’s latest acquisition. The deal, which closed this week, makes Xiamen Culiangwang officially a part of the Coca-Cola China system. Xiamen Culiangwang sells products under the brand China Green Culiangwang ("China Green").
The agreement is part of the Coca-Cola system’s three-year, $4 billion investment plan in China, on top of the company’s total investment $9 billion from 1979 to 2014.
“This investment fully reflects our strategy to continue providing a full portfolio of high-quality beverages to Chinese consumers, and demonstrates Coca-Cola’s confidence in and commitment to China,” said Henrique Braun, president, Coca-Cola Greater China and Korea.
Xiamen Culiangwang was owned by the Hong Kong-listed China Culiangwang Beverages Holdings Ltd., with its production and sales business located in China. Coca-Cola China previously announced its intention to make a cash offer to acquire 100 percent equity interest of Xiamen Culiangwang.
Braun added, “Xiamen Culiangwang will continue to expand its plant protein beverages business along with the development of the beverage market in China. We are confident in its business prosperity.”
China is currently Coca-Cola’s third-largest market by volume.
Since returning to China in 1979, Coca-Cola has rapidly expanded its product portfolio from sparkling beverages to other categories such as juice and dairy drinks, bottled water, coffee and flavored water. Coca-Cola now offers Chinese consumers a wide variety of beverage choices with 15 brands and more than 50 products.