Kekst, FD aid Coke in deal

NEW YORK: Coke worked with Kekst & Co. and FD on its $4.1 billion acquisition of Glaceau announced May 25.

NEW YORK: Coke worked with Kekst & Co. and FD on its $4.1 billion acquisition of Glaceau announced May 25.

Dan Schafer, Coke VP, North America communications, said the company used the two firms to assist with its financial communications surrounding the deal.

Glaceau, formally known as Energy Brands, is the maker of the popular Vitaminwater brand, among others. The purchase is seen as a strong move by Coke to try to catch up with competitor Pepsi in the non-carbonated drinks market.

Schafer said Glaceau will operate as a "stand-alone business" within Coca-Cola's North American group. He said questions of personnel changes and agency relationships as a result of the purchase will not be addressed until the deal closes.

Coke closely coordinated its internal and external communications and messaging surrounding the deal.

"What we told [staffers] about the deal was substantially what you saw in the news release, and then in the coverage," Schafer said. "That the deal is a great fit strategically, financially, and operationally for the company."

He called the deal a "key step" for Coke both in North America and the still beverage market.

Schafer said the company was pleased that its messaging had penetrated the media as it covered the news of the multibillion-dollar deal.

"The coverage has accurately reported our objectives for the deal," he said, "as well as the growth and energy that attracted us to Glaceau in the first place."

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