Coca-Cola Reported in Talks to Acquire Odwalla
Coca-Cola Co. is in talks to acquire Odwalla Inc., a producer of natural fruit drinks, the Wall Street Journal reported, citing trade publication Beverage Digest.
Odwalla, based in Half Moon Bay, Calif., reported $93 million in sales last year and $98 million for the first nine months of fiscal year 2001. Terms of a possible acquisition weren’t known, the Journal said.
A spokesman for Coca-Cola declined to comment, and a representative of Odwalla couldn’t be reached to comment.
On Friday, shares of Odwalla rose 4 cents to close at $6.80 on Nasdaq. The company, with a market capitalization of $75 million, has seen its stock decline 31% this year.
Shares of Atlanta-based Coca-Cola rose $2.47 to close at $48.59 on Friday on the New York Stock Exchange.