Coca-Cola bottler Europacific Partners (CCEP) confirmed this Monday that, together with the company Aboitiz Equity Ventures (AEV), it will buy the bottler Coca-Cola Beverages Philippines (CCBPI) for 1,800 million dollars (1,648 million euros).
As CCEP reported to the National Securities Market Commission (CNMV), it expects the transaction, announced in August last year, to close by the end of the year.
It was confirmed that the ownership structure between CCEP and AEV1 will be 60/40, subject, however, to a number of customary closing conditions, including receipt of required regulatory approvals.
This acquisition focuses on CCEP’s expansion in Australia and the Pacific, the company said.
CCEP positions itself as the largest Coca-Cola bottler in the world
With this operation, the company positions itself as the largest Coca-Cola bottler in the world by both revenue and volume, while “supporting its long-term growth strategy and focusing on increasing shareholder value.”
And he positioned this transaction as “another step for CCEP to create a more diverse presence within its business segment” and an opportunity to make the most of the Indonesia experience.
CCEP, which has 600 million consumers in the world and has been present in Spain for 50 years, increased its profit by 14% to 854 million euros in the first half of this year compared to the same period in 2022.
In Iberia (Spain, Portugal and Andorra), revenue increased by 12.5% to 1,541 million.
In the first nine months of the year, sales amounted to 13,784 million euros, 6% more than in the same period last year.