Coca-Cola Co (KO.N) said on Tuesday that it acquired the remaining stake in Honest Tea for an undisclosed sum, giving the world's largest soft drinks maker a stronger position in bottled tea. Coke said Seth Goldman, Honest Tea's founder and chief executive, will continue to run the business as an independent unit within Coca-Cola, whose tea portfolio has lagged behind those of rivals such as PepsiCo Inc (PEP.N), whose teas include Lipton and Tazo, and Dr Pepper Snapple Group Inc (DPS.N), which makes Snapple. Honest Tea, which sells bottled teas and other juice drinks, was started in 1998 with a socially and environmentally conscious mission. Analysts and other industry watchers have said it remains to be seen whether the company can keep up its philosophy once it gets fully swallowed by Coca-Cola.
Source
