Coca-Cola and Procter & Gamble to launch global drinks and snacks arm

Coca-Cola and Procter & Gamble have set up a joint venture to set up a new juice and snack firm.

Coca-Cola and Procter & Gamble have set up a joint venture to set up a new juice and snack firm.

Each company will own a 50% stake in the unnamed venture, which will focus on the manufacture and marketing of products on a global basis, and is expected to have annual sales of $4bn from the start

It will be headed up by Coca-Cola veteran Don Short, who becomes chief executive. A board of directors will be chosen from both companies.

The venture harnesses Coca-Cola's unrivalled worldwide distribution channels and P&G's research and development capabilities.

It will take on Coca-Cola brands such as Minute Maid, Five-Alive and Fruitopia, and P&G products such as Pringles, Sunny Delight and Punica beverages.



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