Source AP ©

Coca-Cola Co wants tea brand

The Coca-Cola Co. is thinking whether to buy Britain-based Cadbury Schweppes PLC's Snapple iced tea brand or build its own.

"We're always looking at whether to build or buy," spokesman Dana Bolden said, confirming a comment by Chief Executive Neville Isdell to a reporter during a social economic conference in Geneva.

Bolden declined to say if Coca-Cola, the world's largest beverage maker, has approached some private equity funds that have reportedly been involved in bidding for Cadbury's U.S. drinks business, which includes the Snapple brand.

Cadbury Schweppes said in March that it planned to split in two, separating its confectionery and soft drinks businesses, as it apparently bowed to pressure from investors led by U.S. billionaire Nelson Peltz.

Coca-Cola has been working to expand its non-carbonated beverage portfolio as more customers migrate to buying juice, tea and bottled water.

Last month, it completed its $4.1 billion (3 billion EUR) purchase of Glaceau, maker of Vitaminwater. Glaceau, also known as Energy Brands, was Coke's largest acquisition ever.