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Honest Tea acquisition bolsters Coke in bottled tea

Coca-Cola Co. said Tuesday that it acquired the remaining stake in Honest Tea for an undisclosed sum, giving the world’s largest soft drinks maker a stronger position in bottled tea.

Coke said Seth Goldman, Honest Tea’s founder and chief executive, will continue to run the business as an independent unit within Coca-Cola, whose tea portfolio has lagged those of rivals such as PepsiCo Inc., whose teas include Lipton and Tazo, and Dr Pepper Snapple Group Inc., which makes Snapple. Get the full story »