Coca-Cola has reached an agreement with Alizé to acquire the Tropico brand of beverages in France as it targets growth in the flat fruit drinks sector.
The deal marks the first time Coke has acquired a French brand. It forms a part of its diversification strategy to offer a wider choice to consumers.
Tropico products are available in cans and PET bottles in France and Belgium. The brand reportedly generated revenue of around $34 million last year.
According to Coca-Cola, the move highlights its ambition to become a major player in flat fruit drinks, an area which it has grown steadily in recent years. It will also explore the possibility of expanding the brand to other markets in the coming months.