Coke Inks Deal to Buy Moxie, the Official Soft Drink of Maine
Moxiewill be housed in Coca-Cola’s venturing and emerging brands unit.
(Bloomberg) -- Coca-Cola Co. will buy New England cult-favorite soda brand Moxie from one of its independent bottlers as it looks to house more of its up-and-coming beverage brands under one roof.
The soda giant, which recently completed the refranchising of its bottling operations in North America, has inked a deal to purchase Moxie from Coca-Cola of Northern New England for an undisclosed amount. The independent bottler will continue to produce and bottle the fan favorite, and the distribution footprint won’t change under the new ownership.
“Moxie is a great brand with a great heritage,” Coke said in an emailed statement. This bottler “has been a strong steward of the brand over the last decade and we take seriously our responsibility to ensure it stays true to its northeastern roots.”
The Associated Press reported on the acquisition earlier.
Moxie -- designated in 2005 the official soft drink of Maine -- will be housed in Coca-Cola’s venturing and emerging brands unit, alongside growing products like Mexican mineral water Topo Chico. The transaction is expected to close in the fourth quarter.
To contact the reporter on this story: Anne Riley Moffat in New York at ariley17@bloomberg.net
To contact the editors responsible for this story: Crayton Harrison at tharrison5@bloomberg.net, Mark Schoifet
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