Coca-Cola Europacific Partners (CCEP) has, together with Aboitiz Equity Ventures (AEV), entered into a definitive agreement to jointly acquire Coca-Cola Beverages Philippines (CCBPI) from The Coca-Cola Company (KO).
The acquisition would see a 60:40 ownership structure between CCEP and AEV.
The deal values 100% of CCBPI at US$1.8 billion on a debt-free, cash-free basis.
It builds on CCEP’s expansion into Australia, Pacific & Indonesia (API) in 2021, further strengthening the partnership with its significant shareholder KO, and positioning CCEP as the world’s largest Coca-Cola bottler by both revenue and volume.
CCEP’s acquisition of CCBPI, with AEV, one of the leading conglomerates in the local market, offers an opportunity to co-own an established business with attractive profitability and growth prospects.
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