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IN BRIEF / BEVERAGES

Coke May Revise P&G Joint Venture Terms

July 04, 2001|Associated Press

Coca-Cola Co. probably will seek revisions of the joint venture it is forming with Procter & Gamble Co. to market soft drinks and snack foods, an investment analyst predicted.

Both companies said they fully intend to complete a deal for the new, still-nameless company, which they announced in February.

Coke is contributing many of its Minute Maid juice brands--Five-Alive, Fruitopia and Hi-C--while Procter & Gamble offers Sunny Delight and Pringles potato chips, two brands that have suffered dwindling sales in recent months.

Analysts have complained that Coke is needlessly relinquishing profit on one of its highest-growth businesses--juice--in exchange for Sunny Delight and Pringles.

Coke shares rose 34 cents to $45.94 and P&G rose 13 cents to $64.60, both on the NYSE.

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