Coca-Cola, illycaffe finalize joint venture
March 27, 2008
by FoodBusinessNews.net Staff
ATLANTA — The Coca-Cola Co. and illycaffe S.p.A. have finalized a global joint venture and will introduce three ready-to-drink coffee products in Europe next month.
"When we announced the partnership between The Coca-Cola Co. and illy a few months ago, we committed to deliver the prefect ready-to-drink espresso experience," said Muhtar Kent, president and chief operating officer for Coca-Cola. "Today we believe we have delivered on that promise with an authentic Italian coffee experience. I look forward to this partnership delivering these great brands across the globe and enhancing our global leadership in the fast growing R.-T.-D. coffee category."
The new products to be introduced are caffe, cappuccino and latte macchiato. They will be available in 10 European markets, including Austria, Croatia, Greece and Ukraine.
"Over the past few months, we put the effort into bringing to life the illy taste in three new ready-to-drink espresso-based products," said Andrea Illy, chairman. "Now our objective is to give consistency — together with Coca-Cola — to what premium ready-to-drink coffee is … Together we will redefine how people engage with a ready-to-drink coffee in order to experience a true small luxury pleasure."