Coca-Cola Bottlers Philippines, Inc.

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Coca-Cola FEMSA Philippines, Inc.
Subsidiary
Founded 1981 (as Coca-Cola Bottlers Philippines, Inc.)
Headquarters Fort Bonifacio, Taguig
Area served
 Philippines
Key people
 Fabricio Ponce (CEO)
Products Soft drink
Parent The Coca-Cola Company
FEMSA
Website www.coca-cola.com.ph

Coca-Cola FEMSA Philippines, Inc. (formerly Coca-Cola Bottlers Philippines, Inc.) is a Philippines-based company engaged in bottling and distribution of Coca-Cola soft drink brands. It is among the ten biggest Coca-Cola bottlers globally and one of the top 100 Philippine corporations. It operates 23 plants and 42 sales offices with over 7,800 direct employees offers the widest selection of beverages for different needs like soft drinks, water, juices, teas, sports and energy drinks.[1][2][3]

The company was founded in 1981 as Coca-Cola Bottlers Philippines, Inc. and was renamed Coca-Cola FEMSA Philippines, Inc. in January 25, 2013 after becoming jointly owned by Mexico-based Coca-Cola FEMSA, S.A. de C.V. and The Coca-Cola Company.[4]

Beginnings

In 1927, San Miguel Corporation (then known as the original San Miguel Brewery, Inc.) became the first international bottler of Coca-Cola. In 1981, San Miguel spun off its soft drink businesses to a new company named Coca-Cola Bottlers Philippines, Inc. (CCBPI). The company was established as a joint-venture between San Miguel Corporation (70%) and The Coca-Cola Company (30%).

Ownership changes

Coca-Cola Amatil (1997)

In April 1997, CCBPI was merged into the Australia-based Coca-Cola Amatil Limited (CCA). In effect, San Miguel exchanged its 70% interest in a Philippine-only operation (CCBPI) for a 25% stake in CCA, which had operations in 17 countries—both in the Asia-Pacific region and in Eastern Europe. Shortly after, CCA demerged the Eastern European operations into a UK-based firm called Coca-Cola Beverages plc (resulting in a reduction of San Miguel's stake in CCA to 22%). Seeking to maintain its focus on the Asia-Pacific region, San Miguel sold its stake in the new UK entity in mid-1998.

Reacquisition by San Miguel and The Coca-Cola Company (2001)

In July 2001, San Miguel joined forces with The Coca-Cola Company (TCCC) to reacquire CCBPI, with San Miguel taking a 65% stake and TCCC the remaining 35%. As part of the deal, San Miguel sold its CCA shares back to CCA. Later in 2001, San Miguel sold its bottled water (Viva! and Wilkins) and juice businesses (Eight O’ Clock), amalgamated under Philippine Beverage Partners, Inc., to CCBPI. In February 2002, San Miguel completed the acquisition of an 83% stake in rival Cosmos Bottling Corporation in a P 15 billion ($282 million) deal, completed through CCBPI. Cosmos specialized in low-priced soft drinks and held the number two position in the Philippine market. The combination of Coca-Cola Bottlers Philippines and Cosmos Bottling Corporation gave the San Miguel group control of more than 90% of the Philippine soft-drink market.[5]

The Coca-Cola Company (2007)

In February 2007, The Coca-Cola Company (TCCC) purchased San Miguel’s 65% shareholding in CCBPI and subsidiaries for $590 million acquiring the full ownership.[6][7] In September 2010, TCCC announced its plan to invest US$1 billion in its business in the Philippines over the next five years.[8] Part of this investment is the completion of its newest and technologically advanced Mega Plant in Misamis Oriental in January 2012.[9]

Coca-Cola FEMSA (2013)

On December 14, 2012, TCCC signed a definitive agreement to sell its 51% stake in CCBPI to Mexico-based Coca-Cola FEMSA, S.A. de C.V., the world's second largest bottler of Coca-Cola, with operations across Central- and South America.[10] The all-cash transaction became effective January 25, 2013. The deal price represented a $1,350 million valuation of CCBPI. Coca-Cola FEMSA will have an option to acquire the remaining 49% of CCBPI at any time during the next 7 years and will have a put option to sell its ownership back to TCCC any time during year six.[11]

Brands

See also

References

  1. ↑ http://www.coca-colacompany.com/our-company/#TCCC
  2. ↑ http://www.coca-colacompany.com/press-center/press-releases/the-coca-cola-company-reports-full-year-and-fourth-quarter-2012-results
  3. ↑ http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=692757
  4. ↑ http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=692757
  5. ↑ http://www.fundinguniverse.com/company-histories/san-miguel-corporation-history/
  6. ↑ http://www.sanmiguel.com.ph/2007/02/the-coca-cola-company-acquires-full-ownership-of-philippines-bottler-from-san-miguel-corporation/
  7. ↑ http://www.reuters.com/article/2007/02/21/idUSIN20070221220748KO20070221
  8. ↑ http://www.coca-colacompany.com/press-center/press-releases/the-coca-cola-company-reports-full-year-and-fourth-quarter-2012-results
  9. ↑ http://www.philstar.com/Article.aspx?articleId=771096&publicationSubCategoryId=108
  10. ↑ http://www.rappler.com/business/17966-world-s-biggest-bottler-acquires-coca-cola-philippines
  11. ↑ http://www.rappler.com/business/20399-mexico-s-femsa-closes-deal-to-buy-coca-cola-philippines-bottling-operations

External links

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