According to The Australian Financial Review, as the clock ticks on Japanese brewer Kirin's strategic review of Lion Dairy & Drinks, Australia's largest non-alcoholic beverages manufacturer, Coca-Cola Amatil, is emerging as the most likely buyer of brands such as Berri juice, Dare iced coffee and Big M flavoured milk brands.
Coca-Cola Amatil (CCA) and its major shareholder, Atlanta-based The Coca-Cola Co, have refused to confirm or deny they might be interested in Lion Dairy & Drinks, which is expected to be formally put up for sale when a strategic review is completed in mid October.
However, Citigroup's head of research, Craig Woolford, says the acquisition of Lion's dairy, fruit juice, plant-based beverage and yoghurt brands and cold supply chain would make sense for CCA, helping the bottler plug glaring gaps in its product range and accelerate sales growth as consumers shift away from carbonated soft drinks.
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