Coca-Cola Amatil Limited [ASX:CCL] share price has dropped slightly this morning despite news that the beverage company acquired Adelaide-based kombucha producers Organic & Raw Trading Co.
Shares of the local Coca-Cola bottler are down 1.25% at time of writing, from $9.55 to $9.52.
Coca-Cola tackles sugar problem with newest acquisition
The beverage company’s newest acquisition of the healthy alternative comes as the company looks to diversify its portfolio to reflect customer’s changing attitudes toward high sugar products.
As reported by Nine News, Coca-Cola Australia president Vamsi Mohan said:
‘This is another important step in our company’s ongoing work to offer beverages for all occasions, which continues our evolution as a total beverage company…
‘Across Australia, we now have more than 165 products and 25 brands. The addition of MOJO kombucha fits perfectly with the growing popularity of organic, probiotic drinks.’
About MOJO kombucha
The Organic & Raw Trading Co was founded by husband and wife Sarah and Anthony Crabb in 2009 after years of experimenting in their shed in Adelaide, as reported by Sydney Morning Herald. The MOJO brand is now stocked in Woolworths and IGA supermarkets, turning over $5–$7 million annually.
The MOJO range contains 6–9.4 grams of sugar in comparison to the 40 grams in a can of Coke.
Sydney Morning Herald reported that Mr Crabb said he hopes the exposure that the brand will gain from partnering with Coca-Cola will introduce more consumers.
For Money Morning
PS: You’ll find over 2,000 stock listed on the ASX and on any given day a bunch will rise or fall, just like Coca-Cola. It’s near impossible to monitor these on your own. Our analyst Sam Volkering has picked out four Aussie stocks he believes could be top performers in 2018. Check out his free report ‘The Four Best ASX Stocks for 2018’.