Soft drink giant Coca-Cola announced on Tuesday it is acquiring Moxie, a long-lived and beloved New England soda brand that is the official state beverage of Maine.
Moxie has been around since the 19th century and it’s famous in New England for its unique flavor, which is the product of a root extract that gives it a distinctive taste that polarizes drinkers. Coca-Cola said Tuesday it’s acquiring the brand from Coca-Cola of Northern New England, an independent bottling partner of the larger company that’s in Bedford, New Hampshire.
Bottling of the soda will remain in New Hampshire, said Lauren Thompson, a spokeswoman for Coca-Cola. She said the company’s goal is to “work to protect the heritage and regional culture of the brand,” and that Coca-Cola also sees an opportunity to bring Moxie’s brand to a wider audience.
“Moxie is a great brand with a great heritage. Coca-Cola Northern New England has been a strong steward of the brand over the last decade and we take seriously our responsibility to ensure it stays true to its Northeastern roots,” she said.
Coca-Cola declined to provide the price of the sale, which is expected to close in the fourth quarter of this year. Coca-Cola North America has entered into a definitive agreement with Coca-Cola of Northern New England, Thompson said.
The acquisition by Coca-Cola won’t result in any noticeable differences for consumers, said Nick Martin, a spokesman for Coca-Cola of Northern New England. The soda is produced at a facility in Londonderry, N.H., and that facility will remain the exclusive manufacturer.
“If I had to look into my crystal ball, it will primarily remain a regional brand,” Martin said. “It just goes to show you that there’s a tremendously loyal following to this product.”
Moxie is most closely associated with the state of Maine, where it is the subject of the annual Moxie Festival in Lisbon, a river town of 8,800. The drink is also widely used as a mixer in New England, where it’s used to make “Moxie cocktails.”
Moxie states on its website that the drink was patented in 1885 as “Moxie Nerve Food,” and it was the first bottled carbonated beverage made in America. It was once the subject of “wild curative claims,” but would grow to become a popular soft drink in the coming decades, the website states.
By Patrick Whittle, Associated Press
Source: USA Today
Consumer healthcare firm Haleon has appointed Tate & Lyle executive Dawn Allen as its new chief financial officer, effective 1 November 2024. Allen will succeed Tobias Hestler, who has decided to step down from the role, citing a long-term health condition, the company said.
The group said that the bottling line, which adds 6,500 square metres to the existing 60,700-square-metre site, is the next necessary stage in the company’s international development. The leading brand in Campari Group’s global sales, demand for the Italian bitter apéritif has grown by 500% in the last decade.
The partnership will see Coca-Cola adopt new technology to foster innovation and productivity globally. Through the deal, Coca-Cola has made a $1.1 billion commitment to the Microsoft Cloud and its generative AI capabilities.
