Three European Coca-Cola franchises have decided to merge, in attempt to save up to £242 million in operating costs (pre-tax) over the space of three years.
The deal is estimated to close during the second quarter of the 2016 financial year, and the new company – Coca-Cola European Partners (CCEP) – aims to make over £8 billion in net revenue per year.
CCEP will be made up of:
- Coca-Cola Enterprises
- Coca-Cola Iberian Partners
- Coca-Cola Erfrischungsgetränke
CCEP will be incorporated and headquartered in London, and it will be responsible for supplying the world's most famous soft drink to an estimated 300 million consumers in 13 Western-European countries and territories. These are (in size order):
- The United Kingdom
- The Netherlands
Employing locally and operating efficiently
CCEP will have 50 bottling plants across Europe, and its spearheads have vowed to employ locals and distribute the produce locally.
John Brock, current CEO of Coca-Cola Enterprises, will become the CEO of the new company. He said: "This transaction offers clear synergies, along with the scale to better serve the needs of our customers and consumers in Western Europe."
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