Coke looks to quench acquisition thirst with Nudie Juice and T2

BRIDGET CARTER
JULY 8, 2019

The Australian

Coca-Cola Amatil is believed to be considering an acquisition of the Nudie Juice beverage brand from owner Monde Nissin, and the Australian-listed drinks giant is also expected to vie for the T2 tea retailer when it hits the market.

Monde Nissin bought Nudie in 2015 from the Binetter family companies.

The Philippines-based group is believed to be a potential seller.

The natural drinks company markets its products as having no preservatives, artificial flavours or concentrates. It is sought-after by Coca-Cola Amatil as it tries to expand into other drinks markets as soft drinks lose their appeal to consumers increasingly conscious about their health.

Meanwhile, documents such as flyers or information memorandums are believed to be in the market for a sale of the Unilever-owned tea business T2.

Coca-Cola Amatil is expected to be an eager buyer after it previously knocked on Unilever’s door to buy the business.

Investment bank UBS is working on the sale. Some believe that the tea retailer could sell for about $200 million.

The move to sell T2 comes as part of an internal review by Unilever of its brands.

T2 was founded by Maryanne Shearer and Jan O’Connor in 1996.

It was purchased by Unilever in 2013 for $60m.

The European consumer goods company owns numerous brands globally, such as Lipton and Bushells tea, Ben & Jerry’s ice cream, Paddle Pop and Marmite.

Coca-Cola Amatil’s expected interest comes as it is tipped to sound out a potential acquisition of alcohol brands that may be placed on the market later this year by Pernod Ricard, with the beverage business said to be positioning itself to bid for assets with private equity firm Kohlberg Kravis Roberts.