Coca-Cola is poised to complete a £1.35bn takeover of China Huiyan Juice Group.

The US drinks giant has reportedly bid $2.4bn for the company, which is China’s largest fruit juice company and claims to hold more than 40% of the domestic market.

Coca-Cola chief executive Muhtar Kent said the deal would create ”a unique opportunity to strengthen our business in China, especially since the juice segment is so dynamic and fast-growing in China.”

Current shareholders in the target include French drinks group Danone, which holds a 23% stake in Huiyan.

If successful, the deal – which remains subject to regulatory approval from the Chinese authorities – would represent the largest complete acquisition of a Chinese company by a foreign investor to date.