New York, Aug 28 - Coca-Cola Co is near a deal to invest in Zico, a California-based maker of coconut water drinks, according to industry publication Beverage Digest.
The investment would probably be a minority equity stake and could be announced as soon as within a week, said Beverage Digest Editor John Sicher, citing unnamed sources familiar with the matter.
Coke spokesman Scott Williamson declined to comment, saying the world's largest soft-drink company does not "comment on speculation."
Officials at Zico could not immediately be reached.
Earlier this month, rival PepsiCo Inc announced a deal to buy Amacoco, Brazil's largest maker of coconut water drinks.
Beverage Digest reported news of the possible Coke-Zico deal late on Thursday via Twitter, and Sicher confirmed the Twitter report to Reuters on Friday.
Coke shares were down 32 cents, or 0.7 percent, at $49.11 in morning trading.