Coca-Cola Beverages Philippines

Last updated

Coca-Cola Beverages Philippines, Inc.
Company type Subsidiary
Founded1981;43 years ago (1981)(as Coca-Cola Bottlers Philippines, Inc.)
2013;11 years ago (2013)(as Coca-Cola FEMSA Philippines, Inc.)
2018;6 years ago (2018)(as Coca-Cola Beverages Philippines, Inc.)
Headquarters
King's Court Building, Chino Roces Avenue, Makati, Metro Manila, Philippines (2007–2013)
25/F Net Lima Bldg., 5th Ave. corner 26th St.,Bonifacio Global City, Taguig, Metro Manila, Philippines (2013-present)
Area served
 Philippines
Key people
Gareth McGeown (president & CEO)
Products Soft drink
Juice
Water
Sports drink
Tea
Parent The Coca-Cola Company
Website www.cokebeverages.ph

Coca-Cola Beverages Philippines, Inc. (CCBPI, formerly Coca-Cola FEMSA Philippines, Inc. and Coca-Cola Bottlers Philippines, Inc.) is a Philippine-based company engaged in the bottling and distribution of Coca-Cola products in the country. CCBPI is part of the Bottling Investment Group (BIG), The Coca-Cola Company (TCCC)-owned bottling operation intent on building a foundation for long-term success. BIG's operations are primarily focused on markets in Southeast Asia, India, and Southwest Asia, covering 14 countries with 39 plants and 16,500 employees, serving 1.8 billion consumers.

Contents

CCBPI's current product portfolio includes 19 brands, such as Coke, Royal, Sprite, Wilkins, Viva, Thunder, Schweppes, and Minute Maid. It operates nationwide, with 19 manufacturing plants and approximately 50 sales offices and distribution centers—employing more than 9,700 regular employees.

The company was founded in 1981 as Coca-Cola Bottlers Philippines, Inc. and renamed Coca-Cola FEMSA Philippines, Inc. on January 25, 2013, after becoming jointly owned by Mexico-based Coca-Cola FEMSA, S.A. de C.V. and The Coca-Cola Company. The company was renamed Coca-Cola Beverages Philippines, Inc. in December 2018, after being acquired by the Bottling Investments Group (BIG) of The Coca-Cola Company.

History

In 1927, San Miguel Corporation (then known as the original San Miguel Brewery, Inc.) became the first international bottler of Coca-Cola. In 1981, San Miguel spun off its soft drink businesses to a new company named Coca-Cola Bottlers Philippines, Inc. (CCBPI). The company was established as a joint-venture between San Miguel Corporation (70%) and The Coca-Cola Company (30%).

Coca-Cola Amatil (1997)

In April 1997, CCBPI was merged into the Australia-based Coca-Cola Amatil Limited (CCA). In effect, San Miguel exchanged its 70% interest in a Philippine-only operation (CCBPI) for a 25% stake in CCA, which had operations in 17 countries—both in the Asia-Pacific region and in Eastern Europe. Shortly after, CCA demerged the Eastern European operations into a UK-based firm called Coca-Cola Beverages plc (resulting in a reduction of San Miguel's stake in CCA to 22%). Seeking to maintain its focus on the Asia-Pacific region, San Miguel sold its stake in the new UK entity in mid-1998.

Reacquisition by San Miguel and The Coca-Cola Company (2001)

In July 2001, San Miguel joined forces with The Coca-Cola Company (TCCC) to reacquire CCBPI, with San Miguel taking a 65% stake and TCCC the remaining 35%. As part of the deal, San Miguel sold its CCA shares back to CCA. Later in 2001, San Miguel sold its bottled water (Viva! and Wilkins) and juice businesses (Eight O'Clock), amalgamated under Philippine Beverage Partners, Inc., to CCBPI.

In February 2002, San Miguel completed the acquisition of an 83% stake in rival Cosmos Bottling Corporation in a P15 billion ($282 million) deal, completed through CCBPI. Cosmos specialized in low-priced soft drinks and held the number two position in the Philippine market. The combination of Coca-Cola Bottlers Philippines and Cosmos Bottling Corporation gave the San Miguel group control of more than 90% of the Philippine soft-drink market. [1]

The Coca-Cola Company (2007)

In February 2007, The Coca-Cola Company (TCCC) purchased San Miguel's 65% shareholding in CCBPI and subsidiaries for $590 million acquiring the full ownership. [2] [3] In September 2010, TCCC announced its plan to invest US$1 billion in its business in the Philippines over the next five years. [4] Part of this investment is the completion of its newest and technologically advanced Mega Plant in Misamis Oriental in January 2012. [5]

Coca-Cola FEMSA (2013–2018)

On December 14, 2012, TCCC signed a definitive agreement to sell its 51% stake in CCBPI to Mexico-based Coca-Cola FEMSA, S.A. de C.V., the world's second largest bottler of Coca-Cola, with operations across Central and South America. [6] The all-cash transaction became effective January 25, 2013. The deal price represented a $1,350 million valuation of CCBPI. Coca-Cola FEMSA will have an option to acquire the remaining 49% of CCBPI at any time during the next 7 years and will have a put option to sell its ownership back to TCCC any time during year six. [7]

On August 17, 2018, The Coca-Cola Company announced that its Bottling Investments Group (BIG) agreed to acquire the 51% stake in the company held by Coca-Cola FEMSA, S.A. de C.V. [8] [9] [10]

Coca-Cola Beverages Philippines (2018–present)

In December 2018, BIG completed its acquisition of Coca-Cola FEMSA Philippines' bottling operations. The company was then renamed Coca-Cola Beverages Philippines, Inc. as a reflection of its ambition to build a total beverages company. [11]

On February 23, 2024, Philippine-based Aboitiz Equity Ventures Inc. (AEV) announced that it has jointly acquired Coca-Cola Beverages Philippines Inc. together with Coca-Cola Europacific Partners (CCEP) for $1.8 billion on a debt-free, cash-free basis. It will hold a 40% stake, while CCEP will take up the remaining 60% stake. [12] [13] TCCC further announced: “We generate 100,000-plus (employees) throughout the distribution, through our supplies and in the next 5 years, we’re planning for a $1-billion investment, and in fact, we’re even doing a new plant, which we are building in Tarlac,” CCEP chairperson Sol Daurella said. [14]

Brands

Formerly available:

See also

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References

  1. ↑ "History of San Miguel Corporation". FundingUniverse.
  2. ↑ "The Coca-Cola Company acquires full ownership of Philippines bottler from San Miguel Corporation" (Press release). San Miguel Corporation. February 22, 2007. Archived from the original on January 3, 2012. Retrieved October 14, 2012.
  3. ↑ Editorial, Reuters (February 22, 2007). "Coca-Cola acquires full ownership of Philippines bottler from San..." Reuters.{{cite news}}: |first= has generic name (help)
  4. ↑ "Full-Year and Fourth Quarter 2012 Earnings Release".
  5. ↑ "Chinese New Year greeting in Cebuano | Freeman Opinion, the Freeman S…". The Philippine STAR . Archived from the original on January 31, 2013.
  6. ↑ "World's biggest bottler acquires Coca-Cola PH". December 14, 2012.
  7. ↑ "Mexico's FEMSA buys Coca-Cola PH in all-cash deal". January 25, 2013.
  8. ↑ "Coca-Cola Company eyes taking over Coke bottling operations in PH". ABS-CBN News. August 17, 2018. Retrieved August 17, 2018.
  9. ↑ "FEMSA exits PHL, sells back stake in Coca-Cola bottling operations". BusinessWorld . August 18, 2018. Retrieved August 20, 2018.
  10. ↑ "Coca-Cola FEMSA to offload its stake in Coca-Cola Philippines". August 17, 2018. Retrieved August 20, 2018.
  11. ↑ "The Coca-Cola System". The Coca-Cola Company. Archived from the original on April 1, 2019. Retrieved May 15, 2019.
  12. ↑ Cordero, Ted (February 23, 2024). "Aboitiz, CCEP complete $1.8 billion Coca-Cola Beverages PH acquisition". GMA News. Retrieved February 23, 2024.
  13. ↑ Camus, Miguel (February 23, 2024). "Aboitiz buys 40% of Coca-Cola PH". Philippine Daily Inquirer. Retrieved February 23, 2024.
  14. ↑ Rivas, Ralph (February 27, 2024). "Coca-Cola investing $1 billion in Philippine market after Aboitiz deal". Rappler . Retrieved February 28, 2024.
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