Wasn't it Coca Cola? And they re-recorded the line with Cherry Cola to get around the ban?
Pink Floyd had a similar issue with one of their early singles that mentioned the Evening Standard (newspaper). They had to re-record the line as Daily Standard to get played by the BBC. Though in the words of the band themselves, it didn't really matter because it was such an awful song nobody played it anyway.
Speaking of Pink Floyd, their very first single Arnold Layne got banned by the pirate stations because it was about a transvestite.