The Coca-Cola Co. and Select Milk Producers, Inc. (Select) are announcing the acquisition of equity stakes in the newly-created Fair Oaks Farms Brands, LLC to drive growth and expansion of Core Power®, a high protein milkshake, and to create an innovative portfolio of brands and products that feature the value-added nutrition of dairy.
“At The Coca-Cola Co. we strive to provide people with a wide range of beverage choices that meet every occasion and lifestyle need. This new investment led by our Venturing & Emerging Brands group is another great example of our ambition to be the best brand, sales and customer service system in North America,” said Steve Cahillane, president and CEO, Coca-Cola Refreshments, in a prepared statement.
The investment validates the potential both parties see in offering higher quality value-added health and wellness beverages. “Our leadership in technology, innovation and sustainability within the dairy industry, combined with The Coca-Cola Company’s brand development and distribution capabilities will enable a new portfolio of nutritional beverages with strong growth potential,” said Mike McCloskey, co-founder and CEO of Select, an independent group of 87 American family farmers.
According to Steve Jones, CEO of the new Fair Oaks Farms Brands, LLC, “Our initial launch of Core Power® is off to a great start and this new partnership agreement with VEB will help us realize our vision of becoming a leading health and wellness company and the most trusted brand leader in dairy nutrition.”
Core Power® is currently distributed by Coca-Cola Refreshments and available in 26g and 20g protein versions and comes in 11.5 ounce recyclable plastic bottles. It is aseptically packaged so it can be distributed in a shelf stable environment until chilled before consumption.