Coca-Cola China yesterday announced its intention to make a cash offer to acquire 100 percent equity interest of Xiamen Culiangwang Beverage Technology Co, a producer of plant-based protein drinks sold in China.
The company is owned by Hong Kong-listed China Culiangwang Beverages Holdings Ltd. The deal is valued at approximately US$ 400 million.
"The proposed acquisition is in line with Coca-Cola China's strategy to continue providing a diverse range of beverage products to Chinese consumers," according to a statement issued by Coca-Cola China.
