The Coca-Cola Company in illycaffé JV for Ready-to-Drink Coffee Beverages
March 27, 2008
Cleary Gottlieb assisted The Coca-Cola Company in its joint venture with illycaffé to produce ready-to-drink coffee beverages. The companies announced an agreement in October 2007, and the global joint venture was finalized on March 27.
Through the joint venture company Ilko Coffee International, based in Milan, and, with respect to certain territories, through a second joint venture between Ilko Coffee International and Coca-Cola Hellenic (a leading Coca-Cola distributor), the partners introduce three premium ready-to-drink coffee products (“Caffé,” “Cappuccino” and “Latte Macchiato”) in 10 European markets including Austria, Croatia, Greece and the Ukraine. Additional countries in Europe, Asia, North America and the Pacific are slated for expansion throughout the remainder of 2008 and into 2009, with products to be delivered through the Coca-Cola distribution system.
The Coca-Cola Company is the world’s largest beverage company, marketing four of the world’s top five nonalcoholic sparkling brands and a wide range of other beverages. Illycaffé is a coffee producer based in Trieste, Italy. Its products are sold in 140 countries.