Coca-Cola is taking a long-term approach when extending its portfolio, as it seeks to identify the global brands of tomorrow. For this purpose Coca Cola has a Venturing and Emerging Brands division which is staffed by approximately 15 employees, and combines the role of investor, adviser and trend-spotter.

Mr. Deryck van Rensburg, the president and general manager of this unit says that VEB exists to try to identify the next big thing and to look outside the borders of company and partner with these entrepreneurs. According to Mr. van Rensburg the ambition of the organisation is to tap the manufacturers of rapidly-growing or niche products with significant potential.Accordingly Coca-Cola would consider acquisitions in sectors beyond the beverage industry such as snacks, should it prove a good fit with the rest of the business.To achieve such a goal, the firm has drawn on best practice examples from other categories, as pioneered by firms like Cisco, Johnson & Johnson and Sony, to improve its performance. The results of this process include the launch of Vio, described as a "vibrancy drink", and the introduction of a fruit-flavoured soda called Cascal, first developed in France.

In 2008, Coke also bought a 40% stake in Honest Tea, a maker of organic bottled tea, and has since sought to help the organisation feel at home in an enormous corporate structure. Elsewhere, Coca-Cola took a share in Zico, which makes coconut water, for a modest $15m in 2009.

van Rensburg suggested this was the ideal time to get involved, as it provided for enormous flexibility and demonstrated a long term commitment "traditional venture capital offers money, maybe a seasoned beverage executive," he said. "We're in it forever, not just to make the deal."

Data sourced from Atlanta Journal Constitution via Warc.com