Swire Coca-Cola completes acquisition of Coca-Cola bottling business in Viet Nam

Thursday, Jan 05, 2023 17:31

A production line of Coca-Cola. Swire Coca-Cola Limited acquires Coca-Cola Beverages Vietnam Limited, the Coca-Cola bottling subsidiary in Viet Nam. — Photo Courtesy Coca-Cola Vietnam

Swire Coca-Cola Limited, a wholly-owned subsidiary of Swire Pacific Limited, recently announced the completion of its acquisition of Coca-Cola Beverages Vietnam Limited, the Coca-Cola bottling subsidiary in Viet Nam.

The transaction marks another major Swire Coca-Cola investment in Southeast Asia following the acquisition of Cambodia Beverage Company Limited in November 2022.

Swire Coca-Cola now owns and operates three beverage production facilities, 18 production lines and six distribution centres across Viet Nam with a direct and indirect workforce of over 3,500 people.

As one of the fastest growing economies in Southeast Asia with pre-pandemic GDP growth of over 7 per cent per year and an increasingly urbanised population of 97 million people, Viet Nam is one of the most remarkable growth stories in Asia and presents a significant long-term opportunity 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 Viet Nam operations complete Swire Coca-Cola’s existing operations in Cambodia, which were acquired in November 2022.

"The completion of the Viet Nam agreement marks another historic milestone for Swire Coca-Cola, following fast on the heels of our recent acquisition in Cambodia," said Patrick Healy, chairman of Swire Coca-Cola. "We are delighted to step up our presence in Southeast Asia with our investment in Viet Nam and looking forward to welcoming our new colleagues on board.”

“We are thrilled to have completed the acquisition of the Coca-Cola bottling business in Viet Nam. This is another very exciting moment for Swire Coca-Cola, as we dramatically expand our regional footprint to one of Asia’s fastest growing economies with the completion of our second acquisition in Southeast Asia,” said Karen So, Managing Director of Swire Coca-Cola. “New territories and more employees mean more opportunities to deliver refreshment to the world. I am eager to bring Swire's commitment to excellence to our new customers and communities.”

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. — VNS

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