fairlife offers a wide range of milk products. Credit: The Coca-Cola Company.

Global beverage company Coca-Cola has acquired the remaining stake in fairlife from its joint venture partner Select Milk Producers.

Financial terms of the deal are yet to be divulged by either company.

Launched in 2012, fairlife offers Core Power milkshakes, as well as lactose-free, ultra-filtered milk with less sugar and more protein.

Fairlife CEO Tim Doelman said: “We are excited for the next chapter of fairlife’s growth and innovation and look forward to continuing to work with our partners across the Coca-Cola system to meet fast-changing consumer needs in a vibrant category.

“We set out in 2012 to harness the power and nutrition of dairy and give people great-tasting products that provide the nutrition they are looking for. Our innovative product lines will continue to grow and improve with the strength and scale of The Coca-Cola Company.”

Coca-Cola has increased its stake in fairlife from 42.5% minority stake to 100% ownership stake.

Upon acquisition completion, fairlife will continue to operate as an independent business entity with its base in Chicago.

Coca-Cola North America President Jim Dinkins said: “fairlife is a great example of how we’re continually expanding our total beverage portfolio to bring people more of the brands they love.

“This agreement will help ensure that we continue to build on fairlife’s innovative history by combining their entrepreneurial spirit and innovation capabilities with the resources, reach and expertise of Coca-Cola.”

In April last year, fairlife unveiled plans to enhance its milk processing capabilities with the construction of a 300,000ft2 production and distribution facility in Goodyear, Arizona.

The company produces dairy-based beverages at its plant in Coopersville, Michigan, distributed in the US and Canada.