The Coca-Cola company announced it now owns 100 percent of fairlife LLC, made official on Friday. Before the acquisition, Coca-Cola had a minority stake of 42.5 percent of fairlife.
In a release, Coca-Cola, said fairlife will operate as a stand-alone business based in Chicago.
“We are excited for the next chapter of fairlife’s growth and innovation and look forward to continuing to work with our partners across the Coca-Cola system to meet fast-changing consumer needs in a vibrant category,” fairlife CEO Tim Doelman said. “We set out in 2012 to harness the power and nutrition of dairy and give people great-tasting products that provide the nutrition they are looking for. Our innovative product lines will continue to grow and improve with the strength and scale of The Coca-Cola Company.”
In 2012, fairlife was launched as a partnership between Coca-Cola, who would distribute the product, and Fair Oaks Farms—one of 20 dairies that supplies fairlife.
fairlife has been supported through Coca-Cola’s Minute Maid distribution system in the U.S. as well as bottlers across the country. fairlife is expanding production capability with a new facility in Goodyear, Ariz. joining the existing line up of plants in Coopersville, Mich. and Waco, Texas.
“fairlife is a great example of how we’re continually expanding our total beverage portfolio to bring people more of the brands they love,” said Jim Dinkins, president of Coca-Cola North America. “This agreement will help ensure that we continue to build on fairlife’s innovative history by combining their entrepreneurial spirit and innovation capabilities with the resources, reach and expertise of Coca-Cola.”