Coca-Cola To Acquire a Minority Stake In Thrive: Report According to the report, Coca-Cola's move to buy a minority stake would be the company's first investment in a startup in the Indian market
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Beverage maker Coca-Cola is all set to acquire a minority stake in online food ordering place Thrive, according to an ET report. It further stated that Coca-Cola's move to buy a minority stake would be the company's first investment in a startup in the Indian market. However, as of now, the finer details and the size of the deal are not known and more information is expected after the deal gets formalised.
"The strategic investment will give Coca-Cola a distinct edge over rivals, as it will push consumers to order only Coca-Cola's beverages along with the food orders they place on the Thrive app, help them to customise orders, sell package deals and meal combinations, and push loyalty codes," ET quoted a source as saying on the Coca-Cola and Thrive deal.
The source, as per the ET report further added that, "The stake acquisition by Coca-Cola will drive consumer engagement for the beverage maker with both restaurant and consumers, and give it access to consumer data since Thrive has a large base of mid-sized restaurant partners offering diverse cuisines."
Coca-Cola already has exclusive partnerships with the fast food chain McDonald's. In September, Coca-Cola launched its global meals platforms called Coke is Cooking in India. As per available data, Jubilant FoodWorks, which operates Domino's Pizza in India, had previously acquired a 35% stake in Thrive for roughly INR 24.75 crore, intending to expand its direct delivery capabilities and access consumer data and added that, Thrive has gained a large restaurant base since its launch as it charges one-fourth of the commission from the restaurant as compared to 18-25% charged by Zomato and Swiggy.