Coca-Cola buys Texas cult favorite sparkling water brand Topo Chico for $220 million

Coca-Cola is buying Topo Chico, the Mexican mineral water brand that has grown a cult following among Texas’ hip beverage connoisseurs, the head of the brand’s United States presence, Gerardo Galván, confirmed to The Dallas Morning News on Monday.

A press release from Topo Chico’s Monterrey, Mexico-based parent company Arca Continental — already the second largest Coke bottler in Latin America — said The Coca-Cola Company bought the rights to the brand in the U.S. for $220 million.

Image result for topo chico

The deal was made through the American beverage giant’s Venturing & Emerging Brands unit, which aims to grow a portfolio of “smaller, high-value brands” that don’t make soda, like Honest Tea and ZICO coconut water, according to Coca-Cola’s website.

Read more at DallasNews.com:  https://www.dallasnews.com/business/business/2017/10/02/breaking-coca-cola-buy-texas-cult-favorite-sparkling-water-brand-topo-chico

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