Coca-cola europacific partners plc announces completion of joint acquisition of ccbpi

Uxbridge, uk / accesswire / february 23, 2024 / coca-cola europacific partners (ccep) (nasdaq:ccep)(lse:ccep) today confirms it has, together with aboitiz equity ventures inc. (aev), completed the acquisition of coca-cola beverages philippines, inc. (ccbpi) from the coca-cola company (ko) • further to the announcements on 2 august 2023, 20 november 2023 and 30 january 2024 (see links below), ccep today announces it has, together with aev, completed the acquisition to jointly acquire 100% of ccbpi from ko • the key terms of the share purchase agreement comprise: ◦ 60:40 ownership structure between ccep and aev with comprehensive governance arrangements in place ◦ valuation of 100% of ccbpi at $1.8 billion on a debt-free, cash-free basis • to aid comparability, fy23 adjusted financial information for selected metrics is provided in this release the acquisition builds on ccep's successful expansion into australia, pacific & indonesia (api) in 2021, further strengthens its partnership with ko and supports its long-term growth strategy and focus on driving shareholder value. ccep's acquisition of ccbpi, with aev, one of the leading conglomerates in the local market, is a great opportunity to co-own an established, well-run business with attractive profitability and growth prospects.
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