Coca-Cola will look to raise $8.1 billion in a previously announced initial public offering next year for Coca-Cola Beverages Africa.
Keurig Dr Pepper has agreed to purchase $20 million in Vita Coco shares as part of the coconut water company’s recent initial public offering. KDP distributes Vita Coco coconut water and was responsible for about 22% of the company’s net sales as of June 30, according to a recent regulatory filing. The new investment includes an expanded distribution agreement, as well, KDP Chairman and CEO Bob Gamgort said during an Oct. 28 investor call. Polar Beverages is another major distributor for Vita Coco, which produces the namesake coconut water, as well as a plant-based energy drink called Runa, a sustainably packaged water called Ever & Ever, and a protein-infused water called Pwr Lift.
Coca-Cola Beverages Florida has moved into a new 407,000-sq-ft warehouse in Winter Haven, Florida, according to the company. Warehousing and delivery operations for more than 10 million cases of product annually have been moved into the facility so far. The location will continue to be built out through the spring of 2022 at a total investment of $30 million.
In May, MusclePharm formed a partnership with former Rockstar Energy executive Joey Cannata to develop a functional energy drink line called MP Performance Energy. Now the company has announced a capital raise of $7 million, which will be used in part for the rollout of the new product.
Global flavor and ingredient supplier Givaudan has agreed to acquire Kentucky-based natural color maker DDW, The Color House, which operates 12 manufacturing plants globally.
Nine-year-old startup Cometeer, which makes frozen coffee disks that are melted by consumers into a mug with hot water, has raised $35 million in a series B funding round. Investors in the company include the founder of Keurig Green Mountain, the former President of Nespresso, and lead investors in Blue Bottle Coffee, according to multiple media reports.
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