SHANGHAI, April 17, 2015
– Coca-Cola China today announced its intention to make a cash offer to acquire
100 percent equity interest of Xiamen Culiangwang Beverage Technology Co.,
Ltd., a producer of plant-based protein drinks sold in China. The company is
owned by Hong Kong-listed China Culiangwang Beverages Holdings Ltd. The deal is
valued at approximately US$ 400 million.
Headquartered
in Xiamen, Fujian Province, Xiamen Culiangwang’s top-selling products include
green bean, red bean and walnut variants of plant-based protein drinks sold
under the brand China Green Culiangwang.
The proposed acquisition is in line with Coca-Cola China’s
strategy to continue providing a diverse range of beverage products to Chinese
consumers with
plant-based protein drinks representing a growing beverage category in China.
An application will be submitted to the relevant government
authorities for review.
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