New York Mets slugger David Wright hit a financial home run of sorts when the noncarbonated drink maker Glaceau — a company he reportedly has a minority stake in — was acquired by Coca-Cola Inc. for $4.2 billion in cash. The amount of Glaceau that Wright owns is unknown. But based on Tata Group's phenomenal return on its minority stake in Coke's buyout, Wright, who doubles as a pitchman for the company's Vitaminwater, will certainly be doing a celebration dance. Tata purchased a 30% stake in Glaceau last summer for $677 million. As part of Coke's deal, the Atlanta-based company will pay $1.2 billion to Tata Group of India for its stake. Overall, the much anticipated deal is considered by many industry insiders as a heavy price tag to pay for Glaceau, whose earnings were $350 million in 2006. But according to a New York Times article, the company could double its earnings to $700 million in 2007. Known for its sports drinks, Glaceau also makes Fruitwater, Smartwater and Vitamin energy. Coca-Cola's purchase is an attempt to catch up with its main rival PepsiCo Inc., which has leapfrogged Coke by diversifing its earnings into noncarbonated drinks, snacks and food products. For Wright and his winning smile, don't be surprised if Coca-Cola pitches him additional endorsement opportunities. —Gerald Magpily
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