COCA-COLA AND P&G SQUEEZE NEW BIZ
By Adnews Staff
The Coca-Cola Company, based in Atlanta, GA, and The Procter & Gamble Company, based in Cincinnati, OH, are partners in a new U.S.-based company that will focus on developing and marketing juices, juice-based beverages and snacks on a global basis. Each partner will own 50% of the yet-to-be-named company which will combine Coca-Cola's worldwide distribution, merchandising and customer marketing expertise with P&G's research and development capabilities. The venture will include Coca-Cola brands Minute Maid, Hi-C, Five-Alive, Fruitopia, Cappy, Kapo, Sonfil and Qoo and P&G brands Pringles, Sunny Delight and Punica. Don Short, division president and general manager for Coca-Cola's Middle East and Africa region, has been named CEO of the new company. Ad assignments for the brands involved have not been determined.