Coca-Cola switches to water for the moment

Coca-Cola should have its thirst for acquisition quenched for a while after agreeing to shell out $4.1 billion to acquire Glacéau, a maker of “enhanced water” drinks.

The acquisition of Glacéau, whose bottled drinks include Vitaminwater, Fruitwater and Energywater, will give Coca-Cola about 30% of the U.S. market in the category.

Glacéau was founded in 1996 by Darius Bikoff, a New York entrepreneur. The deal should bring Coca-Cola back to prominence in a niche in which it had been surpassed by rivals. Arch-competition Pepsi-Cola, for example, already has about 45% of the market with its Aquafina, SoBe and Propel drinks.

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