Coca Cola gets go-ahead to buy Rio Beverages

Coca-Cola has been given the green light to buy Rio Beverages, which owns a range of non-alcoholic drinks.

Competition watchdog the Commerce Commission said in a statement today that it had cleared the Coca-Cola Company to buy Rio's trademarks and intellectual property, and subsidiary Coca-Cola Amatil NZ to buy Rio's assets.

United States-based The Coca-Cola Company (TCCC) owns about 35 per cent of Coca-Cola Amatil.

In July, TCCC announced the proposed acquisition worth about $40 million.

Commission chairman John Belgrave said his board was satisfied the proposed acquisitions would not, nor would be likely to, substantially reduce competition in any of the affected markets.

Rio's brands include Rio Gold and Keri fruit juices, the e2 lifestyle beverage, Thextons fruit juice drink, Ikon energy drink and Kiwi Blue mineral water.

Its assets included two bottling facilities in Auckland and Christchurch, cold drink equipment and distribution assets.

- NZPA