As a significant milestone in the company’s expansion into Southeast Asia, Swire Coca-Cola Ltd. – a wholly-owned subsidiary of Swire Pacific Ltd. – announced on January 2 the completion of its acquisition of Coca-Cola Beverages Vietnam Ltd. – the Coca-Cola bottling subsidiary in Vietnam.
|Swire Coca-Cola completes the acquisition of the Coca-Cola bottling business in Vietnam
This transaction marks another major Swire Coca-Cola investment in Southeast Asia following the acquisition of Cambodia Beverage Co., Ltd. in November 2022. As of the completion of the deal, Swire Coca-Cola now owns and operates three beverage production facilities, 18 production lines, and six distribution centres across Vietnam with a direct and indirect workforce of over 3,500 people.
|"The completion of the Vietnam agreement marks another historic milestone for Swire Coca-Cola, following fast on the heels of our recent acquisition in Cambodia. We are delighted to step up our presence in Southeast Asia with our investment in Vietnam and are looking forward to welcoming our new colleagues on board,” said Patrick Healy, chairman of Swire Coca-Cola.
As one of the fastest growing economies in Southeast Asia, and with pre-pandemic GDP growth of over 7 per cent per year and an increasingly urbanised franchise population of 97 million people, Vietnam is one of the most remarkable growth stories in Asia and presents significant long-term opportunities for Swire Coca-Cola.
The completion of the deal reflects the continued pursuit of Swire Coca-Cola’s vision to expand its footprint into Southeast Asia, a dynamic and vibrant region with immense growth potential, particularly in the thriving beverage sector.
The sizeable Vietnam operations complement Swire Coca-Cola’s existing operations in Cambodia.
Managing director of Swire Coca-Cola Karen So commented that the company was thrilled to have completed the acquisition of the Coca-Cola bottling business in Vietnam.
“This is another very exciting moment for Swire Coca-Cola as we dramatically expand our regional footprint in one of Asia’s fastest-growing economies with the completion of our second acquisition in Southeast Asia,” said So.
Meanwhile, Claudia Lorenzo, president of ASEAN and the South Pacific at The Coca-Cola Company, added that new territories and more employees mean more opportunities to deliver refreshments to the world.
“I am eager to bring Swire's commitment to excellence to our new customers and communities. Swire Coca-Cola brings the expertise, capabilities, and passion further to accelerate the tremendous growth of the Vietnamese market. We are excited about our partnership on the journey ahead,” said Lorenzo.
Swire Coca-Cola is a division of Swire Pacific Ltd., a listed company on the Main Board of The Stock Exchange of Hong Kong Ltd. (stock code: 00019/ 00087).
As the fifth largest Coca-Cola bottler in the world by volume, Swire Coca-Cola has the exclusive right to manufacture, market, and distribute products of The Coca-Cola Company in 11 provinces and the Shanghai Municipality of the Chinese Mainland, as well as in Hong Kong, Taiwan, Cambodia, Vietnam, and 13 states of the United States. Swire Coca-Cola’s relationship with Coca-Cola began in 1965 with the acquisition of a majority shareholding in the Hong Kong bottling company.
Swire Coca-Cola manufactures over 60 beverage brands and distributes them to a franchise population of around 880 million people.
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