USA: Millennium Products acquires Tula’s CocoKefir
Millennium Products, the parent company of GT’s Kombucha, has acquired functional drinks brand Tula’s CocoKefir for an undisclosed amount, according to a report in BevNet. The transaction is said to have been completed in 2016.
The Tula’s CocoKefir line-up includes coconut based kefirs and fermented yogurts and the brands CocoKefir and CocoYo brands. Post acquisition, both brands have been rebranded under the GT’s name.
Millennium Products manufactures a variety of fermented black and green tea drinks under the GT’s Kombucha brand. The company offers the fermented tea beverage in alcoholic and non alcoholic forms.
Commenting on the acquisition, Millennium Products founder GT Dave said: “It’s exciting for us to play outside of the beverage aisle and we feel that this could be the beginning of a new frontier with our product offerings”.