2 Min Read
(Adds forecast, acquisition details)
LOS ANGELES, Aug 30 (Reuters) - The Coca-Cola Co (KO.N) said on Thursday it reached distribution agreements with its bottling partners and Glaceau distributors for its newly acquired Glaceau brands and affirmed its 2007 profit forecast.
Coca-Cola purchased the maker of vitaminwater and smartwater for $4.1 billion in June in a bid to boost its position in the fast-growing market for noncarbonated drinks.
Coca-Cola said it will carry all major package sizes and flavors of each Glaceau brand in most of its U.S. markets beginning Nov. 5.
Coca-Cola bottlers representing 99 percent of Coke's U.S. bottler-delivered volume have signed on to distribute the Glaceau.
Current Glaceau distributors, including Big Geyser, Haralambos, Kalil, John Lenore & Co and Honickman, will also continue distributing the drinks in their territories. Retailers such as club stores and natural food stores may find their deliveries being managed directly by Coca-Cola North America's Glaceau unit.
The company said the purchase of the Glaceau is not expected to have a significant impact on its 2007 results. It affirmed its full-year forecast calling for earnings per diluted common share in a range of $1.27 to $1.32, including the impact of currency and excluding nonrecurring items.
Coca-Cola said that beginning in 2008, the Glaceau acquisition will enhance the company's "ability to reach long-term growth objectives."
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