Swire Coca-Cola Limited, one of Asia’s largest soft drink producers, agreed to purchase The Coca-Cola Company’s bottling business in Vietnam and Cambodia. The agreement will pave the way for Swire Coca-Cola to enter the Southeast Asian market for the first time.
An agreement between Hong Kong beverage company Swire Pacific and Coca-Cola to purchase bottling operations in Vietnam and Cambodia was made possible following the ratification of the agreement. Hong Kong-listed Swire will pay $1.02 billion for the assets, the company announced.
Specifically, Swire said he was entering to expand his business in the “fastest growing beverage markets.” The transaction has been carried out through two subsidiaries of Swire Pacific, with The Coca-Cola Co. as the selling party, and Swire Coca-Cola Limited and Swire Beverages Holdings Limited.
The acquisition of the company is expected to be completed soon as Swire Pacific Group said. However, the process is subject to antitrust oversight approval, but there is no estimated date.
Swire Coca-Cola already bottles the beverage in Hong Kong, Taiwan, parts of mainland China and the United States. The group manufactures 62 beverage brands and distributes them to 762 million people worldwide, according to its website.
COCA COLA TEAMS UP WITH JACK DANIEL’S TO MARKET NEW ALCOHOLIC BEVERAGE
COCA-COLA CREATIONS LAUNCHES BYTE, THE FIRST FLAVOR BORN IN THE METAVERSE
COCA-COLA STARLIGHT, THE NEW SPACE-INSPIRED BEVERAGE IN A CAN
COCA-COLA BOTTLING COMPANY EUROPACIFIC PARTNERS DOUBLES PROFITS
MOLSON COORS AND THE COCA-COLA NEW BRAND OF CANNED BEVERAGE INSPIRED BY SIMPLY
COCA-COLA FEMSA AWARDED OPERATION OF THE YEAR AT GFC BONDS AND LOANS LATIN AMERICA 2021 AWARDS
CONSTELLATION BRANDS REACHES AGREEMENT WITH COCA-COLA TO INCORPORATE THE FRESH BRAND IN ALCOHOLIC BEVERAGES
COCA-COLA IN THE CANNED SPORTS DRINKS MARKET
Refresco acquires Coca Cola production facilities in the U.S.
