Tag Archives: Coca-Cola Company

Coke to buy SABMiller’s stake in Coca-Cola Beverages Africa

Atlanta-based Coca-Cola Company said on Monday it would buy SABMiller’s stake in Coca-Cola Beverages Africa (CCBA), the newly formed South African-based bottling group with footprints in over a dozen African countries including Nigeria.

Coca-Cola which holds 11.3% stake in CCBA, with Coca-Cola SABCO and SABMiller each holding 31.7% and 57% ownership respectively said it would exercise its change-of control-clause (right-to-buy) to SABMiller’s stake which automatically would have gone to AB InBev, the acquirer of SABMiller after the merger deal closed.

South African Coke bottler may backtrack on merger pledge if government goes ahead with sugar-tax plan

Coca-Cola Beverages Africa (CCBA), the South African group bottler of Coca-Cola products, said on Thursday it may not fulfill its commitment to invest R800 million rand ($54m) in enterprise development if the government goes ahead with its plans for a 20% tax on sugar-sweetened beverages (SSB).

CCBA , which was created out of a merger of SABMiller’s soft drinks business, the Coca-Cola company’s South African operations and Coca-Cola SABCO warned that the proposed tax would make it difficult for the group to meet its merger obligations as it would cause financial strain in an industry where fixed costs were already high.

Coke Q2 profit rise 11% on lower revenue, amid currency headwinds

Coca-Cola said on Wednesday that second quarter net income rose 11% to$3.45bn, from $3.11bn earned in the same period in 2015.

The Atlanta-based soft drinks maker said that net income included non-cash gains from the deconsolidation of its German bottling operations, partially offset by charges from restructuring and re-franchising of its North American territories.

Is Nigeria getting a second Coca-Cola bottler?

These are interesting times in the beverage industry. It was the Greek philosopher, Heraclitus, who said that “change is the only constant in life.” The global beverage industry is moving fast to adapt to changing consumer taste and preferences.

For anyone who has been paying attention to global events in the beverage industry, it is hard to miss the changes taking place in the soft drinks and beer industry. However, this article will focus on the changes taking place in the soft drinks industry as it relates to Nigeria and Africa, with particular emphasis on Coca-Cola.

Coca-Cola SABCO opens new plant in Mozambique

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Coca-Cola SABCO, one of the partners of the newly formed Coca Cola Beverages Africa has unveiled a new $130m bottling plant in Matola Gare, Mozambique.

Speaking at the official event to unveil the new facility, Coca-Cola Chairman and CEO Muhtar Kent noted that Coke has been investing in Africa for almost 90 years and is present in every African country with more than 70,000 employees and 145 bottling plants.

Coca-Cola creates new global structure, announces key management changes

Coca-Cola Company, on Tuesday, announced the creation of a new global structure meant to better align its operating units against its global bottling footprint. The beverage giant also announced a number of key management changes to its international leadership structure.

Sugar shortages force Coca-Cola FEMSA to shut plant in Venezuela

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Coca-Cola FEMSA, the coke bottler in Venezuela said it was stopping production of sugar-sweetened beverages in the country due to shortage of sugar.

“Sugar suppliers in Venezuela have informed us that they will temporarily cease operations” Kerry Tressler, a spokeswoman for Coca-Cola, said in a released statement. “The company is talking with suppliers, government authorities and others to work on a solution.”

SABMiller, Coca-Cola agree concessions with South African regulators

SABMiller and its soft drinks partners, Coca-Cola Company and Coca-Cola SABCO, a Southern African bottler of Coke products have given in to concessions with the South African Competition Commission, which would pave way to the formation of Coca-Cola Beverages Africa, the largest Coca-Cola bottler in Africa that would control 40% of all Coke volumes sold on the continent and have annual sales of $2.9bn.

Coca-Cola to accelerate bottler refranchising plans as full year results disappoints

The Coca-Cola Company released its fourth quarter and full year results on Tuesday, with sales declining 4%. However, organic sales grew 4%, while global volume grew by 2%.

Muhtar Kent, Chairman and CEO of Coca-Cola, said sales growth was led by the company’s flagship North American market, which had its strongest performance in three years. The company saw growths in Coca-Cola Zero, Sprite and Fanta, but a decline in Diet Coke in the fourth quarter.

Coca-Cola buys 40% stake in Chi Ltd.

Coca-Cola Company announced on Saturday that it has acquired a 40% stake in Nigeria’s largest juice maker, Chi Limited, known for its Chivita and Hollandia juice, dairy and yoghurt drinks.

Coke bought the stake from Tropical General Investments Group (TGI Group), Chi’s parent company, the two companies said in a joint statement, though they did not disclose how much Coke paid for the stake. One industry source said Coca-Cola was paying a “triple-digit-million-dollar” amount for the stake. Other sources say Chi was valued at as much as $1bn.