Recently in beverage packaging news, it was announced that the merging of three Coca-Cola bottlers in Europe would result in the largest independent bottler of Coca-Cola products in the world, operated under the name Coca-Cola European Partners.
The London deal will combine Coca-Cola Iberian Partners with Coca-Cola Erfrischungsgetranke, and the independent bottlers of the soft drink, Coca-Cola Enterprises. The three companies involved said the merger would not only make it possible for them to compete for sales of non-alcoholic beverages more effectively, but also give Coca-Cola a larger geographic footprint in Europe. Based in London, Coca-Cola European Partners is expected to serve 13 Western Europe countries and serve more than 300 million consumers.
The merger is slated to close in 2016 at some point during the second quarter, and is subject to approval from shareholders of the enterprise as well as regulators. Once complete, the union of the three companies is expected to result in jobs for approximately 27,000 employees at more than 50 bottling plants. Products manufactured at the plants will be sold in Britain, Andorra, Iceland, Portugal, Sweden, the Netherlands, Luxembourg, Belgium, France, Germany, Norway, Spain, and Monaco.
According to the deal, Coca-Cola Enterprises investors will receive a one-time cash payment of $14.50 per share, amounting to more than $3 billion along with one share in the combined company. Within three years of the completion of the merger, the combined company anticipates a cost savings of up to $375 million annually.
Coca-Cola has been in business for nearly 130 years, its rich history beginning in 1886 when Dr. John Pemberton, a pharmacist in Atlanta, created a distinctive tasting soft drink out of his own curiosity that would be a huge hit at soda fountains. At REA JET, we applaud companies who are successful and enjoy longevity, particularly given today’s competitive spirit across every industry.
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