Tag Archives: Coca-Cola HBC AG

Revenue growth initiatives, cost efficiencies lift Coca-Cola HBC profit

Coca-Cola HBC, the parent company of Nigerian Bottling Company (NBC) reported its full-year results on Thursday for the 2016 financial year, with revenue falling 2% to €6.2bn ($6.6bn) despite a 1% volume increase.

The company which is the Coca-Cola anchor bottler in 28 mostly European countries and Nigeria said that adverse currency movements caused the decline.

Coca-Cola acquires AB InBev’s stake in CCBA

Soft drinks giant Coca-Cola announced on Wednesday it has agreed to buy SABMiller’s 54.5% stake in Coca-Cola Beverages Africa (CCBA) from AB InBev for $3.15bn.

Coca-Cola and AB InBev said in a joint statement that they had agreed to the transfer of AB InBev’s 54.5% stake in CCBA to The Coca-Cola Company (TCCC). The stake was formerly owned by SABMiller before the mega beer acquisition that saw SAB merge with AB InBev.

NBC marks 65th Anniversary with assurances of more investments

Nigerian Bottling Company (NBC), bottlers of the famed Coca-Cola brand in Nigeria stated its commitment to sustained investment in the country as it celebrated its 65th Year Anniversary.

The assurance was made on 7th December, at an event with stakeholders marking the company’s anniversary. The engagement was part of various events organized by the company to commemorate its historic milestone and themed, ‘Celebrating a Tradition of Excellence’.

Coca-Cola Icecek weighs vying for SABMiller’s stake in Coca-Cola Beverages Africa

Coca-Cola Icecek (CCI), the fifth largest bottler of Coca-Cola products in the world has expressed interest in acquiring SABMiller’s stake in Coca-Cola Beverages Africa (CCBA).

In a statement released by the company on Monday, it said: “Coca-Cola Icecek A.S. (CCI) has decided to engage with investment banks to evaluate any potential alternatives in relation to The Coca-Cola Company (“TCCC”) announced intention to sell this stake to strategic partner. Any further developments on this will be separately announced going forward.

Coca-Cola HBC open to further acquisition of juice, water brands or new territories – CEO

Coca-Cola HBC said on Thursday it was open to further acquisitions of juice, water brands or new territories, Dimitris Lois, Coca-Cola HBC CEO said following its Q3 update.

CCHBC, which bottles Coca-Cola products in 28 mostly European countries and Nigeria, said it was focused on driving a recovery in some markets that are struggling.

As this happens, we will become more active in M&A,” Lois said, noting that the company would be interested in adding water and juice brands to its business in existing markets.

Coca-Cola HBC revenue dips 2% in Q3; company remains confident in meeting full year target

Coca-Cola HBC AG reported its third quarter results on Thursday, with net sales revenue falling 1.9% to €1.74bn ($1.92bn), down from €1.77bn in the prior year. Total volumes declined 1% to 571.6m cases versus 577m cases in the previous year quarter.

Coca-Cola Beverages Africa to have new partner by 2018, says Coke

Atlanta-based Coca-Cola said it hopes to have a new bottling partner to replace SABMiller in Coca-Cola Beverages Africa (CCBA) by 2018.

Coke announced last week that it would exercise its change-of-ownership rights to acquire SABMiller’s 57% stake in CCBA from AB InBev and find new suitable partners. The soft drinks giant said it expects about four months of negotiation with AB InBev before acquiring SABMiller’s stake and another 12 months to obtain regulatory approval from the South African authorities.

Coke may split SABMiller’s stake in CCBA among several bottlers, says analysts

Atlanta-based Coca-Cola Company may split SABMiller’s 57% stake in Coca-Cola Beverages Africa (CCBA) among more than one franchise partner, according to analysts.

In a statement released by Coke after announcing its plan to buy-back SABMiller’s stake in CCBA, the company said, it would negotiate with “potential partners” to refranchise CCBA.

Coca-Cola HBC wins Dow Jones Sustainability Indices (DJSI) Leader of the Beverage Industry

Coca-Cola HBC, a leading bottler of Coca-Cola products in 28 countries including Nigeria has been named the Sustainability leader of the beverage industry by the Dow Jones Sustainability Indices (DJSI) assessment published on 8 September 2016.

NBC appoints George Polymenakos as new Managing Director

Nigerian Bottling Company (NBC), bottlers of the famed Coca-Cola brand in Nigeria has announced the appointment of George Polymenakos as its new Managing Director, with effect from July 2016. Mr. Polymenkos takes over from Ben Langat, who joined NBC as Chief Finance Officer in 2009, and later to be appointed as Managing Director in 2012. Until recently, George Polymenakos was Regional General Manager for Coca-Cola Hellenic Bottling Company (CCHBC) for Moscow, Russia.