Coca-Cola Co. said Jan. 3 that the company bought 57.5% of milk distributor Fairlife LLC it did not already own from its joint venture partner Select Milk Producers.

Chicago-based Fairlife offers value-added dairy products in North America. Coca-Cola previously held a 42.5% stake in Fairlife.

Financial terms of the transaction were not disclosed. Fairlife will continue to operate as a stand-alone business.