Aboitiz Equity Ventures Inc. (AEV) and partner Coca-Cola Europacific Partners Plc. (CCEP) have successfully completed the acquisition of Coca-Cola Beverages Philippines Inc. (CCBPI) from The Coca-Cola Company (TCCC) for $1.8 billion.
CCBPI, the exclusive bottler and distributor of TCCC products in the Philippines, has been identified as a profitable venture with promising growth opportunities, according to AEV.
The deal saw AEV acquiring a 40-percent stake in CCBPI, with CCEP acquiring the remaining 60 percent. The transaction was finalized on February 23, 2024, following the completion of all necessary conditions.
Both AEV and CCEP obtained clearance from the Philippine Competition Commission earlier this month for the acquisition, paving the way for new opportunities in the branded consumer goods sector.
AEV, a prominent conglomerate in the Philippines, expressed confidence in supporting CCBPI’s growth trajectory through synergies with its diverse business interests. Meanwhile, CCEP, a global consumer goods leader operating in 30 countries, is set to expand its presence following the successful acquisition.
With a strong foothold in various industries such as power, banking, food, and infrastructure, AEV aims to become a pioneering techglomerate in the Philippines, leveraging innovative technologies to drive business development and community progress.
Nomura played a pivotal role as the exclusive financial adviser to AEV throughout the acquisition process, ensuring a smooth and successful transition.
The completion of this acquisition marks a significant milestone for AEV, CCEP, and the overall consumer goods market, reflecting a strategic move towards sustainable growth and development in the Philippines and beyond.
