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The Coca-Cola Company is phasing out one of its longtime beverages – Portland, Oregon

Portland, Oregon 2022-05-28 12:01:21 –

(NEXSTAR) – Coca-Cola is reading tea leaves — and they are not very optimistic about Honest Tea.

Founded in 1998 and acquired by the Coca-Cola Company in 2011, the company confirmed earlier this week that the beverage will be phased out of the Coca-Cola portfolio by the end of the year.

Coca-Cola cites the challenges of lower sales and the supply of glass bottles as reasons for the decision to abolish Honest Tea. The company also believes that other ready-to-drink tea brands, Gold Peak and Peace Tea, are in a better position for growth.

“By moving from a three-brand tea portfolio to a high-priority two-brand tea lineup, investment resources and supply chain capabilities will be unlocked to better meet consumer needs and share in this category. You can win, “said Sabrina Tandon, Group Director of Readyto. -Drinking Coca-Cola North American tea press release.

The Coca-Cola Company purchased a 40% stake in Honest Tea in 2008, ten years after the brand was founded. Honest Tea was completely acquired by Coca-Cola in 2011. (AaronDavidson / GettyImages for SOBEWFF®)

Coca-Cola has removed Honest Tea from its portfolio, but will continue to produce Honest Kids beverage lines. The company also retains ownership of the Honest Tea brand, despite the phased discontinuation of the product.

In addition to Honest Tea, Gold Peak, Peace Tea, Coca-Cola Company Coffee and tea The portfolio includes Fuzetea and several brands that are mainly sold abroad, such as Ayataka, Costa Coffee, Dogadan and Georgia.

The Coca-Cola Company is phasing out one of its longtime beverages Source link The Coca-Cola Company is phasing out one of its longtime beverages

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