Soft drinks giant Coca-Cola is adding another Australian drinks company to its portfolio with the announcement of a minority stake in beverage company Made Group.
Coke has purchased a 45 per cent stake in Made Group in a joint acquisition with local drinks distributor Coca-Cola Amatil.
Made Group is known for leading Australian beverage brands including Cocobella, Rokeby Farms, Impressed and the company’s first brand, NutrientWater, which was launched in 2005.
Their portfolio appeals to Australians looking for healthier beverage options including cold-pressed juice, high-protein smoothies, probiotic milk and coconut water as well as cold-brew coffee and yogurts.
The deal, for an undisclosed sum, will see co-founders Luke Marget and Matt Dennis remain in charge of the business with support from Coca-Cola Australia and Coca-Cola Amatil to grow market reach and distribution
Made Group co-founder Matt Dennis said that the investment was a significant milestone in the company’s 13-year history.
“We are extremely pleased to have such experienced partners in helping unlock scale and growth, while we continue to focus on product innovation to match emerging consumer trends,” Dennis said.
“Our focus on improving the everyday lives of Australians aligns perfectly with Coca Cola’s strategy of becoming a total beverage company,” he added.
Dennis revealed plans to expand manufacturing in Melbourne with a state-of-the-art production facility which is in the final stages of development.
President of Coca-Cola Australia Vamsi Mohan said that the investment is another example of how Coca-Cola is transforming into a total beverage company.
“We are always looking to offer the new beverages that Australians want. Globally Coca-Cola has shown that we can build successful new brands through both acquisition and our long history of innovation. This investment is a perfect example of our desire to keep doing this in Australia,” Mohan said.
“The Made Group’s capability in agile innovation across its range, which includes premium juices, dairy and coconut water, is the perfect complement to our existing portfolio and growth plans and will help us ensure we provide Australians with beverages for all occasions,” he added.
Alison Watkins, Managing Director Coca-Cola Amatil Group, said the investment is an important link in the Accelerated Australian Growth Plan for Coca-Cola Amatil and Coca-Cola Australia, which aims to bolster performance in attractive growth categories and embrace innovation.