| For Immediate Release | 9 February 2024 |
[February 9, 2024] The Coca-Cola Company, ThaiNamthip Corporation Limited and Swire Coca-Cola Limited have announced today they have entered into definitive agreements to form a strategic bottling alliance in north ASEAN, including Thailand, Laos, Vietnam and Cambodia.
The companies will align the management, governance and growth objectives across the ThaiNamthip and Swire Coca-Cola franchise territories with an aim to become the undisputed leader in the beverages market in the region. The alliance will drive profitable growth through world-class differentiating capabilities and a relentless focus on customers and consumers.
The alliance will leverage the local knowledge and understanding in Thailand and Laos of ThaiNamthip and the global perspective of Swire Coca-Cola. Through the combination of their capabilities, scale, and capacity to invest locally, the alliance will seek to achieve their substantial long-term growth ambitions.
The alliance will be brought about by The Coca-Cola Company divesting its minority ownership of ThaiNamthip to both ThaiNamthip and Swire Coca-Cola immediately after signing today. Additionally, subject to regulatory approvals, Swire Coca-Cola will take a controlling stake in ThaiNamthip’s bottling operations in Thailand and Laos, and ThaiNamthip will take a minority stake in Swire Coca-Cola’s bottling operations in Vietnam and Cambodia.
Coca-Cola ASEAN and South Pacific President Claudia Lorenzo said, “Coca-Cola is celebrating 75 years in Thailand this year. We are delighted that in this anniversary year two exceptional bottling partners are joining forces in our key north ASEAN markets. Between them they bring the local knowledge and global insights that will accelerate all our markets forward into the future.”
Karen So, Managing Director of Swire Coca-Cola Limited, said, “We are thrilled to further expand our presence in South East Asia to Thailand and Laos. This investment highlights our robust partnership with The Coca-Cola Company and the impressive strength and capabilities of our local partner, ThaiNamthip. The investment underscores the immense growth potential we see in Thailand and Laos. Together, we are poised to bring unparalleled expertise, capabilities, and ambition to accelerate growth throughout the north ASEAN region. Our expansion also aligns with Swire Pacific’s strategic, long-term plan of continuous investment in Hong Kong, the Chinese Mainland and South East Asia.”
Ignace Corthouts, President of ThaiNamthip Corporation, said, “Today marks an important milestone for ThaiNamthip, as we embark on our next chapter of growth. The bottling alliance between ThaiNamthip and Swire Coca-Cola - one of the top five bottlers in the world - will combine the strengths and capabilities of both companies, as well as our unwavering commitment to customers and consumers, to capture untapped opportunities in the north ASEAN region.”
The transactions are subject to the parties receiving regulatory approvals. The parties are committed to working together to implement a smooth implementation with minimal disruption for customers, consumers and system employees.
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is a total beverage company with products sold in more than 200 countries and territories. Our company’s purpose is to refresh the world and make a difference. We sell multiple billion-dollar brands across several beverage categories worldwide. Our portfolio of sparkling soft drink brands includes Coca-Cola, Sprite and Fanta. Our hydration, sports, coffee and tea brands include Dasani, smartwater, vitaminwater, Topo Chico, BODYARMOR, Powerade, Costa, Georgia, Gold Peak, Honest and Ayataka. Our nutrition, juice, dairy and plant-based beverage brands include Minute Maid, Simply, innocent, Del Valle, fairlife and AdeS. We’re constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We seek to positively impact people’s lives, communities and the planet through water replenishment, packaging recycling, sustainable sourcing practices and carbon emissions reductions across our value chain. Together with our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide. Learn more at www.coca-colacompany.com and follow us on Twitter, Instagram, Facebook and LinkedIn.
About ThaiNamthip Corporation
ThaiNamthip Corporation is a leading consumer goods company in Thailand and a bottling partner of The Coca-Cola Company since 1959. As the leader in non-alcoholic beverages, we bring over 200 SKUs of beverages to more than 430,000 retail and customer outlets across Thailand. ThaiNamthip operates more than 50 Sales Offices, five state-of-the-art bottling plants with a combined production capacity of more than 450 million unit cases per year, more than 50 warehouses and a fleet of more 1,500 delivery trucks. We currently employ more than 8,000 associates across our business operations. As an industry leader, ThaiNamthip is committed to sustainability and chooses to do what’s right for our customers, our communities, and our planet.
For more information, visit https://www.thainamthip.co.th/en.
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, Vietnam 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 over 880 million people.
For more information, visit www.swirecocacola.com
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