Coca-Cola India is forming a new division dedicated to juices for the first time to focus on health beverages and offset a potential slowdown in carbonated drinks. Coca-Cola's two juice drinks, Maaza and Minute Maid, will be part of this new division. McCormick has acquired a 26% stake in Eastern Condiments, a major Indian spices and seasonings dealer, for $36 million. Life Technologies is acquiring part of its local distributor LabIndia and plans to increase its Indian revenue to $50 million by December 2012. Philips India has emerged as the front-runner to acquire a controlling stake in lighting maker Halonix for around Rs 300 crore.