Coca-Cola has completed the acquisition of Chinese beverage company Xiamen Culiangwang Beverage Technology for around $400m, including debt.

The acquisition was announced last April and took almost a year to receive regulatory approvals.

Xiamen Culiangwang Beverage Technology is a protein drinks manufacturer that is based in Xiamen, Fujian province.

“The proposed acquisition is in line with Coca-Cola China’s strategy to continue providing a diverse range of beverage products to Chinese consumers.”

Owned by Hong Kong-listed China Culiangwang Beverages Holdings, it sells plant-based protein drinks in flavours such as red bean and walnut under the China Green Culiangwang brand, reported International Business Times.

At the time of acquisition, Coca-Cola was quoted by International Business Times as stating: "The proposed acquisition is in line with Coca-Cola China’s strategy to continue providing a diverse range of beverage products to Chinese consumers with plant-based protein drinks representing a growing beverage category in China."

With the completion of the deal, Coca-Cola expects to gain presence in the multi-grain drinks segment.

The Chinese beverage maker earned a net profit after tax of $31m in fiscal 2014.

This deal is Coca-Cola’s first acquisition in China after the regulatory authorities stopped its attempt to purchase Huiyuan, a fruit juice producer, in 2010.