| For Immediate Release | 25 November 2022 |
HONG KONG - 25th November 2022 - Swire Coca-Cola Limited, a wholly-owned subsidiary of Swire Pacific Limited (HKSE: 00019/00087), announced today the completion of its acquisition of the Coca-Cola subsidiary with bottling business in Cambodia. Swire Coca-Cola will assume ownership of Cambodia Beverage Company Ltd. and commence its franchise operations in Cambodia from 26th November 2022.
The transaction is Swire Coca-Cola's first investment in South East Asia, expanding its operating footprint into a new region. The completion of the deal reflects the vision to expand Swire Coca-Cola's footprint across a vibrant and dynamic region with immense growth potential, as the company welcomes around 900 employees on board to its thriving team.
"The completion of the Cambodia agreement marks a major milestone for Swire Coca-Cola," said Patrick Healy, Chairman of Swire Coca-Cola. "As our first foray into South East Asia, we are thrilled to work alongside our new colleagues and excited by the significant opportunities of the Cambodia beverage market. We feel very positive about the future growth potential of Swire Coca-Cola in South East Asia."
"We are delighted to have completed the acquisition of the Coca-Cola bottling business in Cambodia. Leveraging our proven strengths in commercial capabilities, marketing, supply chain, customer service and digitalisation in our existing operating regions combined with the strength and local expertise of our new colleagues, we will be able to continue serving the needs of our customers and consumers in Cambodia effectively and contribute positively to the local community," said Karen So, Managing Director of Swire Coca-Cola.
"Swire Coca-Cola is a strategic bottling partner for the Coca-Cola system with current operations in Greater China and parts of the western United States," said Claudia Lorenzo, President, ASEAN and South Pacific of The Coca-Cola Company. "We are confident that Swire Coca-Cola brings the passion for our business and the capabilities to accelerate even further the tremendous growth of the Cambodia market."
Swire Coca-Cola's acquisition of Coca-Cola bottling businesses in Vietnam, subject to regulatory approval, is progressing and further updates will be provided in due course.
About Swire Coca-Cola Limited
Swire Coca-Cola is a division of Swire Pacific Limited, a listed company on the Main Board of The Stock Exchange of Hong Kong Limited (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 and in Hong Kong SAR, Taiwan Region, Cambodia and 13 states of the USA. Swire Coca-Cola's relationship with Coca-Cola began in 1965, with the acquisition by Swire 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 780 million people.
Visit Swire Coca-Cola's website at www.swirecocacola.com.
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