Coca-Cola Europacific Partners adquiere una embotelladora de Filipinas por 1.640 millones de euros
Coca-Cola Europacific Partners (CCEP) has announced that, together with Aboitiz Equity Ventures (AEV), it has agreed to acquire Coca-Cola Beverages Philippines (CCBPI) from The Coca Cola Company for 1.64 billion euros.
According to CCEP’s filing with the Comisión Nacional del Mercado de Valores (CNMV), the transaction implies an enterprise value for the bottling company of $1.8 billion (around 1.64 billion euros).
CCEP and AEV have signed a non-binding “letter of intent” to carry out this acquisition, which sets out an ownership structure whereby CCEP would be the majority owner (60 %) of CCBPI, while AEV would have a minority stake of 40 %.
The proposed acquisition builds on CCEP’s expansion into Australia, Pacific and Indonesia (API) in 2021, which positioned the company as the world’s largest Coca-Cola bottler by revenue and volume.
The deal, according to the firm, is “consistent with The Coca-Cola Company’s stated intention to divest bottling operations”. The proposed acquisition of CCBPI together with AEV, one of the leading conglomerates in the local market, “offers a great opportunity to co-acquire a well-established and well-managed company with attractive profitability and growth prospects”, CCEP explained.
The business would be governed by a five-member board, two appointed by AEV and three by CCEP, which would also appoint the CEO. The proposed acquisition is subject to a number of conditions, CCEP said.
“We are delighted to announce the acquisition of CCBPI together with AEV. This move gives us a more diverse presence within our Australia, Pacific and Indonesia (API) business segment, supporting Indonesia’s transformation and driving our medium-term strategic objectives,” said CCEP CEO Damian Gammell.
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