AUBURNDALE, Fla. (AP) — The Coca-Cola Co. says it is spending $2 billion to support the planting of 25,000 acres of new orange groves in Florida, a move officials are lauding as a major investment in the Sunshine State's citrus industry.
The announcement is being made at a late-morning news conference at Coca-Cola's juice production plant in Auburndale. Details were released in advance to The Associated Press.
Coca-Cola owns the Minute Maid and Simply juice brands.
"It's an investment in a market that's very important to us," said Steve Cahillane, the president of Coca-Cola Americas.
Some 5 million new trees will be planted in the new groves, believed to be the largest citrus addition in the state for at least 15 years. The groves will be located in Polk, DeSoto and Hendry counties in central Florida.