Coca-Cola Buys Out Fairlife
According to FOODDIVE, Coca-Cola has purchased the remainder of FairLife from Select Milk Producers. Previously, Coca-Cola owned a 42.5% share of Fairlife.
Fairlife was launched in 2012 with its Core Power product, but reached national brand recognition with its Fairlife ultra-filtered (UF) milk that launched two years later. The UF product has 50% more protein than conventional milk and is lactose free. It reached $500 million in sales in 2018.
But the brand was rocked by allegations of animal abuse at Fair Oaks Farms in Indiana earliest this year. While the farm has taken numerous measures to ensure abuse does not again occur, Coca-Cola indicated it wanted to take more control of the brand.
“Everyone at Coca-Cola was shocked and heartbroken to hear of the incident last summer,” says Jim Dinkins, Coca-Cola’s North American president. “That’s why it’s important to our team that we be highly involved. Since then, we’ve been working with Fairlife to ensure their supply chain has the strongest possible policies and practices to assure animal welfare and worker care.”
No terms of the sale were disclosed.