Coca-Cola Beverages Philippines Inc., the official bottling partner of The Coca-Cola Company in the Philippines, has rebranded to Coca-Cola Europacific Aboitiz Philippines Inc. following the completion of a strategic acquisition by Coca-Cola Europacific Partners (CCEP) and Aboitiz Equity Ventures (AEV). The change, effective as of 15 January, signals a new chapter for the company as it seeks to drive long-term growth in the Philippines.
Gareth McGeown, CEO and president of the newly renamed entity, said that the move is a reflection of the company’s evolution. “Our new name signifies an exciting new phase in our journey, reaffirming our commitment to serving our customers, supporting our people and communities, and driving growth,” he said. McGeown emphasized that Coca-Cola’s 113-year presence in the Philippines marks a foundation for future growth, with the company now poised to deliver more than just beverages, but positive social impact through sustainable business practices.
The rebranding comes after the February 2024 acquisition, in which CCEP and Aboitiz Equity Ventures completed the purchase of the bottling operations from The Coca-Cola Company for USD1.8 billion. As part of the agreement, CCEP holds a controlling 60 percent stake, while AEV owns 40 percent. AEV President and CEO Sabin Aboitiz highlighted the commercial strength of the new partnership. “This new name represents the strength of our partnership with Coca-Cola Europacific Partners. Together, we’re committed to enhancing our impact on customers and communities,” Aboitiz stated.
The company operates 18 manufacturing facilities and nearly 70 distribution centers across the Philippines, employing around 9,000 Filipinos. Its extensive beverage portfolio includes 20 well-known brands, positioning the company as a dominant player in the local beverage sector.
Financially, the company has already demonstrated its growing potential. AEV reported a significant increase in net income from its food and beverage segment, which includes Coca-Cola, for the first nine months of 2024. The segment contributed P4.2 billion in net income, a more than eight-fold increase from P499 million during the same period in 2023.
AEV believes the strategic synergies from its diverse business operations will play a key role in driving further growth for Coca-Cola Europacific Aboitiz Philippines. The rebranding represents not only a new identity but also an expanded capacity to leverage the combined strengths of both Aboitiz and CCEP to expand market reach and deepen consumer connections across the Philippines.
