Following an overwhelming shareholder vote last week, as of May Coca-Cola Amatil and Coca-Cola European Partners with be no more, joining together to form Coca-Cola Europacific Partners.
The new entity will be the world’s largest Coca-Cola bottler and once of the leading FMCG companies in the world, employing over 3000 people and servicing approximately 2 million customers across the world.
“We’re excited to bring together two of the world’s best bottlers under a new name,” said CCEP chief executive Damian Gammell.
“This is a significant moment for [CCA] and [CCEP], and our new name reflects what will be a broader and more balanced geographic footprint – doubling our customer reach. As one company we can go further together, driving growth and scaling faster.”
The vote to approve the acquisition was held last Friday, and saw 97.6 per cent of shares proxy vote in support of the takeover – representing about 62 per cent of total shareholders in CCA. Only 0.9 per cent of votes were against the takeover.
The takeover means CCA’s brands, which include Coca-Cola, Mount Franklin, Pump, Goulburn Valley, Monster Energy, Barista Bros, Blue Moon and Rekorderlig will now be owned and operated out of Europe.
After NSW Court approval of the merger plan was granted on Monday, Coca-Cola Amatil has filed the final regulatory paperwork and trading in the company’s shares is scheduled to end at the close of business today.
Meanwhile, the new company said Peter West, currently MD of Coca-Cola Amatil (CCA) Australia will become VP and GM for a newly created Australia, Pacific and Indonesia (API) business unit under the combined entity and will join the executive leadership team of CCEP. The unit’s operations include Australia, Indonesia and Papua New Guinea, New Zealand, Fiji and the Pacific Islands.