THE Coca-Cola Company announced on Friday, August 17, that its Bottling Investments Group (BIG) plans to take over bottling operations in the Philippines, subject to regulatory approvals.
This comes after Coca-Cola Femsa’s announcement that its board has voted to exercise an option to sell its 51 percent stake in Coca-Cola Philippines back to the Coca-Cola Company.
“We respect Coca-Cola Femsa’s decision, and we appreciate the progress made during their five-year tenure in the Philippines,” said John Murphy, president of the Asia Pacific Group for The Coca-Cola Company.
“The market is better positioned than ever before for future success, and we are confident about the potential ahead. The Coca-Cola Company will work to ensure a smooth transition of the Philippines bottling operations, for all customers, business partners, consumers and, importantly, for all those who work in the bottling operations,” he said.
“The Coca-Cola Company has been operating in the Philippines for more than 100 years, and we know that long-term, sustainable success is built on strong fundamentals,” said Winn Everhart, president and general manager of the Philippines for The Coca-Cola Company.
“In every market’s evolution, there will be ups and downs. We are confident both in the opportunities that we have ahead and in the plans we have in place for the Philippines. With BIG’s depth of experience and solid track record in Southeast Asia, we believe they will bring significant value to our business,” Everhart said.
“Southeast Asia is an important market for us, and we look forward to the Philippines joining our portfolio,” said Calin Dragan, president of BIG. “We want all customers and consumers to know that we are fully committed to ensure a seamless transition with Coca-Cola Femsa. Most importantly, we want all employees to know that we appreciate the progress they have made in moving the Philippines business forward, and we believe that this will continue to improve as part of BIG.”
BIG was created by The Coca-Cola Company to ensure that select bottling operations receive the appropriate investments and expertise to ensure long-term success. (PR)