Coca-Cola Shuts Down Its Odwalla Juice Brand, Eliminates Refrigerated Trucking
After spending several years evaluating its Odwalla brand of juice in an effort to find a way to make it profitable, Coca-Cola (NYSE: KO) announced that it is closing down the brand permanently. New deliveries will be halted by July 31. In August, the company says it plans to begin picking up any leftover product.
The move will end slightly less than 19 years of Coca-Cola ownership of the brand, which it acquired in October 2001 for $181 million. At the time, John Sicher, editor of Beverage Digest, called the acquisition "a very smart deal for Coke," while Odwalla CEO Stephen Williamson remarked that "the entrepreneurial spirit of Odwalla will be nurtured by the opportunity for growth that this new relationship presents."
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Source Fool.com
