The Coca-Cola Co. of Atlanta has exercised its option to acquire the remaining portion of Bethesda-based Honest Tea Inc., an organic bottled tea company.

Coca-Cola bought a 40 percent stake in Honest Tea in 2008 for $43 million. The companies did not disclose how much Coca-Cola paid to acquire the rest of the Bethesda company.

Honest Tea will continue to be based out of Bethesda, and will continue to operate as a stand-alone business under founder and CEO (his title is TeaEO, according to a news release) Seth Goldman, his management team and current employees.

The companies said Goldman has chosen to reinvest most of his proceeds from the sale back into Honest Tea.

Powered by Bookmarkify™