Coca-Cola Europacific Partners announces $1.8bn joint acquisition of Coca-Cola Beverages Philippines
Coca-Cola Europacific Partners (CCEP) and Aboitiz Equity Ventures (AEV) will jointly acquire Coca-Cola Beverages Philippines in a $1.8bn deal.
It’s the latest move as the Coca-Cola bottler seeks to grow in Asia: building on the 2021 acquisition of Coca-Cola Amatil.
That acquisition gave Coca-Cola Europacific Partners access to Australia and New Zealand: but also to the attractive growth market of Indonesia, which is set to be the fifth most populus nation by 2050, according to the UN.
Now it will gain Coca-Cola's market in the Philippines: which has a large and growing population with attractive growth prospects (the country’s 115m people make it the 13th largest globally; while the soft drinks industry is forecast for 10% value growth per annum).
