Coca-Cola is shutting down Odwalla, its juice and smoothie brand, at the end of this month.
In 2001, Coca-Cola acquired U.S.-based Odwalla for $181 million, but, according to reports, had struggled with the business in recent years, due to consumer concerns about sugar content in juices, as well as a waning interest in smoothies.
In addition, the wholly-owned subsidiary of the beverage giant involved logistical challenges, as products had been delivered to retail locations via a fleet of more than 200 refrigerated trucks. The distribution network will also be shuttered.
In all, the closure at the end of July will result in about 300 job losses.
Related articles:
Articles connexes
Quench the thirst
Beverages: Fizzy and extreme
Caffeinated energy drinks boost sales
Tilray misses analyst expectations in Q4, following February layoffs
With stadiums, theatres closed, Coke Q2 revenue plunges
Coca-Cola recovery continues as it grows leaner in pandemic
Coca-Cola Canada makes changes to its sales team
Pandemic shakes up beverage choices
7-Eleven Canada proposes in-store 'consumption areas' for beer and wine
Nestlé sells bottled-water brands in North America for US$4.3 billion
