Coca-Cola (NYSE: KO ) is boosting its presence in the dairy market, announcing initial plans to get behind the Core Power beverage marketed as a "high-protein muscle recovery drink."
Coca-Cola announced today that it has teamed up with Select Milk Producers to purchase equity stakes in a new limited liability company called Fair Oaks Farms Brands that will manufacture and sell the Core Power brand of high-protein milk shakes and attempt to expand into "an innovative portfolio of brands and products."
Select Milk Producers is a cooperative of 87 family-owned dairies based primarily in Texas, New Mexico, and the Midwest. It produces and markets more than 6 billion pounds of milk annually.
Coke's Coca-Cola Refreshments subsidiary already acts as distributor for Core Power, selling the product as shelf-stable protein shakes.
Financial terms of the deal were not disclosed.