Coca-Cola Europacific Agrees to Buy Coca-Cola Beverages Philippines in $1.8 Billion Deal
By Joe Hoppe
Coca-Cola Europacific Partners said it has reached a definitive agreement to jointly buy Coca-Cola Beverages Philippines, Inc., or CCBPI, from The Coca-Cola Company for $1.8 billion in a joint acquisition.
The London-listed bottling company said Monday it has agreed together with Philippines conglomerate Aboitiz Equity Ventures Inc. to buy the entirety of CCBPI, in a 60:40 ownership structure. Coca-Cola Europacific will hold the larger stake.
The company said the acquisition will build upon its prior expansion into Australia, Pacific and Indonesia in 2021, positioning Coca-Cola Europacific as the world's largest Coca-Cola bottler by both revenue and volume.
The acquisition is still subject to a number of closing conditions, including regulatory approval.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
November 20, 2023 02:49 ET (07:49 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
5 Undervalued Stocks to Buy to Play a Little Defense
-
Markets Brief: AI Leaders Excel In Earnings Season So Far
-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
What’s the Difference Between the CPI and PCE Indexes?
-
3 Good Stocks to Buy with Your Tax Refund in 2024 (Or with Any Extra Money)
-
SoFi Earnings: Revenue Growth Slows on Lower Loan Growth and Higher Credit Costs
-
Tesla: Full Self-Driving Approval In China Supports Our View for Deliveries Growth In 2024
-
Philips Earnings: Firm Reaches $1.1 Billion Settlement Agreement
-
AbbVie Earnings: Next-Generation Immunology Drugs Help Offset Humira Biosimilar Pressure
-
Exxon Earnings: Ignore Earnings Shortfall as Long-Term Growth and Improvement on Track
-
American Airlines Earnings: We See Costs Overshadowing Market Share This Year
-
Snap Earnings: Advertising Growth and Snapchat+ Drive Monetization