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Aboitiz Group pops surprise with Coke PH acquisition

Feature

Aboitiz Group pops surprise with Coke PH acquisition

Under the terms of the proposed acquisition, CCEP will own 60 percent of CCBPI while AEV will take the remaining 40 percent ownership

By James A. Loyola

While the Aboitiz Group already has extensive investments in power, infrastructure, real estate, banking, and shipbuilding, it recently made waves with its diversification into the consumer business with its acquisition of a 40 percent stake in Coca-Cola Beverages Philippines Inc. in a $1.8 billion deal.

Aboitiz Equity Ventures Inc., the investment arm of the Aboitiz Group, and Coca-Cola Euro-pacific Partners Plc (CCEP) have entered into a definitive agreement to jointly acquire CCB-PI from The Coca-Cola Company (TCCC) with the transaction expected to close this quarter.

WE (3).jpg — Sabin M. Aboitiz, President and Chief Executive Officer – Aboitiz Equity Ventures Inc.

CCBPI is the exclusive bottler and distributor of the products of The Coca-Cola Company in the Philippines and benefits from attractive profitability and growth prospects.

Under the terms of the proposed acquisition, CCEP will own 60 percent of CCBPI while AEV will take the remaining 40 percent ownership. “The proposed acquisition would build on AEV’s portfolio diversification strategy to enter the branded consumer goods space. AEV is well positioned to support CCBPI’s growth ambition due to the synergies which could be generated from AEV’s other business interests in the country,” the company said.

The Aboitiz Group was established in the late 1800s by Paulino Aboitiz as a trading firm dealing in abaca and general merchandise in Ormoc, Leyte and eventually made its mark as a shipping company serving the Visayas region.

Aboitiz & Co. (ACO) was incorporated in 1920 and continues to serve as the Aboitiz family’s private holding company.

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