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Coca-Cola Reported in Talks to Acquire Odwalla

October 22, 2001|Bloomberg News

ATLANTA — Coca-Cola Co. is in talks to acquire Odwalla Inc., a producer of natural fruit drinks, the Wall Street Journal reported, citing trade publication Beverage Digest.

Odwalla, based in Half Moon Bay, Calif., reported $93 million in sales last year and $98 million for the first nine months of fiscal year 2001. Terms of a possible acquisition weren't known, the Journal said.

A spokesman for Coca-Cola declined to comment, and a representative of Odwalla couldn't be reached to comment.

On Friday, shares of Odwalla rose 4 cents to close at $6.80 on Nasdaq. The company, with a market capitalization of $75 million, has seen its stock decline 31% this year.

Shares of Atlanta-based Coca-Cola rose $2.47 to close at $48.59 on Friday on the New York Stock Exchange.

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