Coca-Cola (KO) might like to own tea company Snapple. So says Coke’s CEO.
Reuters writes: "Snapple, which sells flavored teas, lemonades and juice drinks, is one of the world’s largest bottled tea brands, ahead of Coke’s entire tea portfolio which includes Nestea, Gold Peak and recently acquired Fuze, according to recent Beverage Digest data."
Coke could use a lift. Over the last two years, its shares have underperformed the broader market, and are up about 25%. Shares in Cadbury Schweppes, which owns Snapple now, are up about 40%.
Maybe Snapple brings good luck to its owner.
Douglas A. McIntyre
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