Tag Archives: Coca-Cola Company

Big Beer, Wine and Soft Drinks Firms Vie for Majority Stake in CCBA

Big multinational beer, wine and soft drinks firms are competing for the 57% majority stake in Coca-Cola Beverages Africa (CCBA).

First reported by Reuters and Bloomberg in April, Heineken, Coca-Cola Hellenic and Castel Group are among companies that have bid for a majority stake in CCBA, according to people familiar with the matter.

Coca-Cola reaches agreement with South Africa over CCBA

Coca-Cola said on Thursday that it had reached an agreement with the South African government on a package of conditions addressing public interest considerations in connection with the proposed acquisition of AB InBev’s 54.5% stake in Coca-Cola Beverages Africa (CCBA).

The soft drinks giant reaffirmed its commitment to honour all merger conditions agreed with South African regulators when CCBA opened for business in 2016. Coke also agreed to ensure that the majority shareholder of CCBA will honour all merger conditions agreed at the creation of the company.

Coca-Cola Africa names Roger Gauntlett to head its South African unit

Coca-Cola African unit has appointed Roger Gauntlett to become its new General Manager (GM) for its South African operations, replacing Luigi Panaino, who left the company after 20 years of Coca-Cola system experience.

Mr. Gauntlett is a veteran of the Coca-Cola system, having joined the company in Johannesburg in 1999. He will be responsible for managing the firm’s relationship with its bottling partner, Coca-Cola Beverages South Africa (CCBSA), ensuring alignment as well as sustainable and profitable growth for the beverage giant’s business in the country.

Coca-Cola ‘No Sugar’ set to make its debut

The Coca-Cola Company (TCCC) is set to unveil “Coca-Cola No Sugar”, its newest creation this week in Australia. The beverage giant chose Australia because its local franchise, Coca-Cola Amatil has been experiencing declining sales as more Australians opt for less sugar in their drinks due to health concerns.

The soft drinks giant said that “No Sugar” or “Zero Sugar” as it is called in some markets due to local labeling requirements, was the result of five years of development and 15 consumer trials to get the taste of a non-sugar drink as close as possible to the original coke.

Coca-Cola suffers sales and profit slump in Q1 on refranchising costs, headwinds

Atlanta-based Coca-Cola said on Tuesday that revenue for the first quarter ending on March 31, 2017 fell 11% to $9.1bn, while profit dropped 20% to $1.18bn. The poor performance was blamed on headwinds related to acquisitions, divestitures and costs associated with the ongoing North American bottling refranchising programme, as well as foreign exchange headwinds.

Coca-Cola Icecek withdraws bid for CCBA partnership

Coca-Cola Icecek (CCI) said on Tuesday it was withdrawing its interest in bidding for SABMiller’s former stake in Coca-Cola Beverages Africa (CCBA).

The Turkey-based firm, which is the fifth largest Coke bottler in the world, with operations in 10 Middle Eastern countries and employs 10,000 people, said that it has completed a “comprehensive evaluation into buying the 54% stake from The Coca-Cola Company (TCCC).

Coca-Cola defends integrity of its brands – Sprite, Fanta

The Coca-Cola Company (TCCC) has said that its beverages – Fanta and Sprite are safe for human consumption.

Commenting for the first time on the Fanta and Sprite controversy in Nigeria, the Atlanta-based soft drinks giant said that the ruling by a Lagos High Court that its brands – Fanta and Sprite are unfit for consumption when combined with Vitamin C is “inaccurate and unsupported by science”. It added that both benzoic acid and ascorbic acid (vitamin C) are ingredients approved by international food safety regulators.

FX headwinds, acquisition costs and divestitures weigh on Coca-Cola sales and profits

The Coca-Cola Company (TCCC) reported its fourth quarter and full-year results on Thursday, with revenue falling 6% for the quarter to $9.4bn, from $10bn in the same period in 2015. It would be the seventh quarterly drop for the company. Full-year sales also fell 5% to $42bn, from $44bn in the prior year, blamed on foreign exchange headwinds, weakened economies abroad, cost of acquisitions and divestitures tied to its bottler refranchising.

The soft drinks giant said that costs related to the refranchising of its U.S. bottling operations came in higher than expected and hurt Q4 and full-year results, with fourth quarter net profit declining 55% to $550m, from $1.24bn, while full-year net income fell 11% to $6.5bn, from $7.4bn.

Coca-Cola sued in U.S. court for allegedly minimizing the health impact of sugary drinks

Atlanta-based Coca-Cola and the American Beverage Association, a trade group, are being sued in a U.S. court for allegedly misleading consumers about the true health effects of sugary drinks.

A non-profit organization – The Praxis Project accused the beverage giant and the trade group of downplaying the risk of soft drinks on health in order to grow sales, despite evidence from the scientific community linking sugary drinks to obesity, diabetes and cardiovascular disease.

Health industry accused of sabotaging efforts to reduce sugar content in sweetened beverages

Advocates of sugar-tax on sweetened beverages such as Carbonated Soft Drinks (CSDs) in Nigeria say that health organisations as well as medical and public health institutions have been enabling the rise in new cases of diabetes and other non-communicable diseases (NCDs) in the country by accepting billions of naira in donations from soft drink manufacturers in the form of Social Responsibility donations.