Coca-Cola Co. intends to exercise its right to buy the remainder of Maryland-based Honest Tea, the organic tea company's co-founder wrote on an Inc. magazine blog. But Seth Goldman added that Coke won't be the only owner. "I will able to repurchase most of my personal equity in the company and Honest Tea will continue to be run out of Bethesda, Maryland," he wrote. "This is an unexpected, though positive, twist to the transaction."
Coca-Cola bought a 40 percent stake in Honest Tea in 2008. Goldman said Coca-Cola chief executive Muhtar Kent supports his idea of staying on at the company.
"Ownership matters to entrepreneurs," Goldman wrote. "The business world is riddled with tales of entrepreneurial brands that lost their spark after they were acquired."
Separately, a representative of Honest Tea said the company was "one step closer" to finishing a deal, but nothing is finalized.
