Atlanta ? Coca-Cola is betting big that Glaceau will help it expand its water and energy drink offerings and jump-start North American sales.

On Friday, the world’s largest beverage maker said it would buy the privately held maker of Vitaminwater for $4.1 billion in cash. And Coca-Cola executives said the price tag, which is nearly twice what Glaceau’s estimated value was less than a year ago and represents Coke’s largest acquisition ever, is worth it.

Formed in 1996 and based in Whitestone, N.Y., Glaceau is the maker of Vitaminwater, Fruitwater, Smartwater and Vitaminenergy.