Honest TeaEO sells stake to Coca-Cola
February 5, 2008
I was surprised to read in the BBJ today that CEO Seth Goldman has sold a 40 percent stake of his Bethesda-based Honest Tea to the Coca-Cola Co. Especially since there is an option for Coca-Cola to buy the rest of the company after three years.
On his blog, Goldman writes, “While Coke is now our largest shareholder, the agreement was negotiated to ensure that Honest Tea will not be managed or controlled by Coke. We will continue to operate as an independent business with the same leadership and mission.” He cites the need for a larger impact, increased sales and the distribution help that Coca-Cola can provide.
Most of the comments to his blog announcement have been cautiously optimistic - assuming that Honest Tea keeps the high fructose corn syrup at bay.
What do you think - is Honest Tea selling its soul or growing stronger by partnering with Coke?
JACKIE SAUTER, Web Editor
Sphere: Related ContentHonest TeaEO out to save the world
September 5, 2007
Seth Goldman, better known as founder of Bethesda-based Honest Tea, seems to be single-handedly taking on global warming - at least, inside the (Washington) beltway.
Goldman hosted a press conference this afternoon (with special guests MoCo Executive Ike Leggett and Lt. Gov. Anthony Brown) to show off Honest Tea’s new eco-friendly office space in downtown Bethesda and to announce the creation of the “Bethesda Green Zone.”
It should be noted that many of the attendees were most concerned with getting their hot little hands on a pomegranate white tea with acai.
But I digress.
Truly “in the zone,” Goldman and Honest Tea seem to be leading the environmental effort, setting goals of additional bike racks for Bethesda employees’ use and converting area restaurants’ waste grease into biodiesel fuel.
Anthony Brown hit the nail on the head when he remarked:
“[The O’Malley-Brown Administration is] trying to make advances in healthcare - you’re doing it; trying to make advances in business development - you’re doing it; trying to make advancements in environment and energy - and you guys are doing it.”
Brown chuckled as he went on to say, “You’re really holding the governor’s feet to the fire.”
Is it time for area business leaders to become community leaders - and partner with the state on issues like the environment?
As Seth Goldman seems to advocate, do small businesses have an inherent social responsibility?
If so, tell us what your business is doing on this front. If not, tell us why.
Above: Seth Goldman poses outside the old Honest Tea office on Wilson Lane in Bethesda.
-JACKIE SAUTER, Multimedia Editor
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