Coca-Cola, the soft drinks giant, has purchased Israel’s third largest dairy, Tara, for around USD 39 million, according to the Dairy Industries Newsletter.

The dairy has an annual turnover of USD 100 million and employs a workforce of 600.

Coca-Cola Israel explains the decision by the need to extend its product range and gain access to the growing market for drinkable dairy products.

Last year Coca-Cola launched a range of milk drinks in the US. According to the Australian newspaper, Sydney Morning Herald, Coca-Cola is planning a similar launch in Australia next year.

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