• 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, supports its long-term growth strategy, and focuses 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. The transaction is thus immediately EPS accretive and creates an even more diverse footprint for CCEP within its existing API business segment, from now on renamed APS (Australia, Pacific & South East Asia). It provides the opportunity to leverage best practices and talent, including supporting Indonesia’s transformation journey. It is, therefore, aligned with CCEP’s aim of driving sustainable and stronger growth through diversification and scale, and underpins the company’s mid-term strategic objectives. 

As CCEP will control the majority (60%) of CCBPI, it will consolidate CCBPI as of the acquisition date and establish a non-controlling interest representing AEV’s minority interest (40%). CCBPI delivered ~$1.9 1 billion (~€1.7 billion) of Revenue and ~$1151 million (~€105 million1 ) of Operating Profit in FY23. The transaction consideration has been funded through existing liquidity and incremental borrowing. It will have a modest impact on CCEP’s leverage, having closed FY23 at the top end of its mid-term guided range of 3.0 times Net Debt to Comparable EBITDA.

For more information on the transaction, please visit: www.cocacolaep.com

• https://ir.cocacolaep.com/static-files/0e2aab54-4883-4518-bb2b-c1a5b4d55c2c (2 August 2023)
• https://ir.cocacolaep.com/news-releases/news-release-details/coca-cola-ep-plc-update-reacquisition-ccbpi (20 November 2023) 
• Coca-Cola Europacific Partners – Coca-Cola EP PLC – PCC approval received to jointly acquire CCBPI (cocacolaep.com) (30 January 2024)

About CCEP (LEI 549300LTH67W4GWMRF57) 

CCEP is one of the leading consumer goods companies in the world. We make, move and sell some the world’s most loved brands – serving 600 million consumers and helping more than 2 million customers across 31 countries grow. We combine the strength and scale of a large, multi-national business with an expert, local knowledge of the customers we serve and communities we support. The Company is currently listed on Euronext Amsterdam, NASDAQ (and a constituent of the Nasdaq 100), London Stock Exchange and the Spanish Stock Exchanges, trading under the symbol CCEP. 

About AEV 

AEV is one of the leading conglomerates in the Philippines with over 100 years of business history. It has major investments in power, banking and financial services, food, infrastructure, land, and data science and artificial intelligence. AEV is recognized as one of the best-managed companies in the Philippines and the region, consistently cited for its commitment to good corporate governance and sustainability. Currently, the company is on its Great Transformation journey to become the Philippines’ first Techglomerate as it continues to drive change for a better world by advancing business and communities. 

AEV is a member of the United Nations Global Compact, Global Compact Network Philippines Board of Trustees, the APEC Business Advisory Council and the Council for Inclusive Capitalism, and helps champion sustainability initiatives on a regional level through policies, advocacies, and initiatives that contribute to the United Nations Sustainable Development Goals (UN SDGs). With a clear focus on ESG, the company is implementing its #OneAboitizSustainability Synergy model, which transforms its life-essential businesses to improve sustainable practices and continue to create a positive impact on society and the environment.