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Latest News

Tea, or something stronger?

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July 4, 2007 10:00 by



Coke is mulling a bid for Snapple, the iced tea division owned by Cadbury Schweppes, as part of a broader push into tea-based drinks, Coke Chief Executive E. Neville Isdell told Reuters.

Coke also aims to expand its palette of tea-based drinks using a revived pact with Nestle and recently met with officials from the Coke-Nestle joint venture, Beverage Partners Worldwide, to advance their plans, Isdell said.

“You’re going to see more value-added products from the tea platform,” he said. The company is also looking at expansion in the healthy drinks, juices and water categories. Earlier this year it bought vitaminwater maker Glaceau for $4.1 billion.

Staying with drinks, but the stronger stuff, Europe’s top wine-producing countries could be forced to dig up almost 6% of their vines under a scheme mooted by the European Commission.

EU officials hope the radical five-year plan will dry up huge wine stockpiles and help bolster its position to compete against the New World.

The shake-up of the $1.7bn EU wine budget will now be debated by EU farm ministers. Unsurprisingly, it has so far received a huge backlash from European wine producers.

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