Coca-Cola and consumer products group Procter & Gamble have formed a joint venture to develop and market innovative juice-based drinks and snacks on a global basis. The new joint venture, not yet named, aims to have annual sales of $4bn from the start. Coca-Cola and Procter & Gamble jointly stated that "it is expected to add to the earnings of its two parent companies in the second year of being set up…" by combining Coca-Cola's world-wide distribution, merchandising and marketing capabilities with P&G's research and development expertise. The new set-up will take over existing Coca-Cola brands, such as Minute Maid, Five-Alive and Fruitopia while P&G brings Pringles, Sunny Delight and Punica beverages.
