Friday, the Coca-Cola Company announced it has acquired the remaining stake in fairlife LLC from its joint venture partner Select Milk Producers. Coca-Cola now owns 100% of fairlife.
fairlife will continue to operate as a stand-alone business based in Chicago and the terms of the deal were not disclosed.
“We are excited for the next chapter of fairlife’s growth and innovation and look forward to continuing to work with our partners across the Coca-Cola system to meet fast-changing consumer needs in a vibrant category,” fairlife CEO Tim Doelman said in a press release. “We set out in 2012 to harness the power and nutrition of dairy and give people great-tasting products that provide the nutrition they are looking for. Our innovative product lines will continue to grow and improve with the strength and scale of The Coca-Cola Company.”
Part of fairlife’s success is credited to the network of Minute Maid and Coca-Cola bottling distributers throughout the country. In 2018, fairlife also launched in Canada. Additionally, fairlife is also continuing to expand production capability in the U.S. by complementing production in Coopersville, Mich. and Waco, Texas with a new facility under construction in Goodyear, Ariz.
“fairlife is a great example of how we’re continually expanding our total beverage portfolio to bring people more of the brands they love,” said Jim Dinkins, president of Coca-Cola North America in a press release. “This agreement will help ensure that we continue to build on fairlife’s innovative history by combining their entrepreneurial spirit and innovation capabilities with the resources, reach and expertise of Coca-Cola.”