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SEAGRAM TURNS ON THE JUICE AND BUYS DOLE BEVERAGES
Published January 6, 1995
The Seagram Company announced yesterday that it will pay $285M in cash for Dole Food Company's juice business -- extending the domestic fruit beverage market share of Seagram's Tropicana brand from 13.1% to approx. 16%. "This would bring Tropicana closer to the 19.5 percent share the Coca-Cola Company holds through Minute Maid, Hi-C and other brands." The deal includes Dole's juice plants in the U.S. and Europe, as well as production agreements in Japan and China, but does not include Dole's canned pineapple juice operations (Glenn Collins, N.Y. TIMES, 1/6). HIGHER EARNINGS EXPECTED FOR COCA-COLA AND PEPSICO: "Continuing to benefit from strong U.S. sales," Coca-Cola and PepsiCo "are expected to report higher fourth-quarter earnings and gains in volume." Net income for Coca-Cola is estimated to jump 22% with an 11% gain in international volume, while PepsiCo "should report an increase in profit of about 15%." Coca-Cola Enterprises Inc. "is expected to post flat results." Overall, domestic soft-drink sales are "benefiting from new packaging, such as Coke's contour bottle; discounting in supermarket aisles; and the growth of noncarbonated drinks such as teas and sports drinks" (Laurie Grossman, WALL STREET JOURNAL, 1/6).