Food & Drinks

Coca-Cola sells assets in Vietnam, Cambodia to Swire Pacific

Swire Pacific, the Hong Kong conglomerate, has struck a deal to buy Coca-Cola bottling operations in Vietnam and Cambodia.

The Hong Kong-listed Swire is to pay US$1.02bn for the assets, the company announced today (18 July).

In a stock-exchange filing, Swire said the acquisition marked its entry into south-east Asia’s drinks sector. It added the transaction would expand its existing drinks business into one of the “most rapidly growing beverages markets”.

The deal has been carried out via two Swire subsidiaries – Swire Coca-Cola Limited and Swire Beverages Holdings Limited – with Coca-Cola (Japan) Co. Ltd., an indirect, wholly-owned subsidiary of The Coca-Cola Co, the selling party. The deal will be funded through Swire’s “internal resources and existing banking facilities”, the group added.

Swire Coca-Cola already bottles the drink in Hong Kong, Taiwan, parts of mainland China and the US. The group currently manufactures 62 beverage brands and distributes them to 762m people worldwide, according to its website.

Just Drinks has approached The Coca-Cola Co. for comment.

Related Companies

Coca-Cola sells assets in Vietnam, Cambodia to Swire Pacific


Coca-Cola sells assets in Vietnam, Cambodia to Swire Pacific



 Source link

Back to top button