Tag Archives: The Coca-Cola Company

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.

Coke to end bottling deal with Zimbabwe’s Delta Beverages

Atlanta-based Coca-Cola Company (TCCC) has given notice of its intent to terminate the bottler’s agreement it has with Delta Beverages Limited, Zimbabwe’s largest brewer.

Coke suffers third Quarter profit decline on foreign currency related headwinds

Atlanta-based Coca-Cola on Wednesday reported a 7% drop in revenue for the third quarter ending September 30, 2016 to $10.63bn from $11.4bn in the previous year, impacted by a foreign currency exchange headwind of 2% and headwinds from acquisitions, divestitures and structural items of 8%.

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 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.

Coca-Cola Beverages Africa opens for business

Coca-Cola Beverages Africa, a joint-venture of SABMiller’s non-alcoholic beverage business with those of The Coca-Cola Company and Gutsche Family Investments (owners of Coca-Cola SABCO) officially opened for business on Saturday.

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.”

South African regulator gives its conditional approval to SABMiller, Coca-Cola deal

South Africa’s Competition Tribunal, said on Tuesday it has given its nod to the merger of SABMiller’s South African soft drinks business with Coca-Cola’s South African operation and that of Coca-Cola SABCO to create what would be known as Coca-Cola Beverages Africa, the continents biggest coke bottler with 40% of all Coke’s volumes sold in Africa.

Coca-Cola revenue, profits fall on weak currencies

Coca-Cola’s revenue fell for the fourth straight quarter as weak demand in Europe and a strong dollar against other currencies cut into sales from other markets outside the United States, including Latin America.

Coke and its smaller rival, PepsiCo have been hurt as consumers increasingly turn away from carbonates and instead opt for healthier beverages such as teas, water, fruit juices and smoothies.