Coca-Cola Europacific Partners and Aboitiz Equity Ventures completed the acquisition of Coca-Cola Beverages Philippines for $1.8bn.

Coca-Cola Europacific Partners, an independent Coca-Cola bottler, and Aboitiz Equity Ventures, an investment management firm, completed the acquisition of Coca-Cola Beverages Philippines, a company that is engaged in the bottling and distribution of Coca-Cola products, for $1.8bn. The acquisition would build on AEV’s portfolio diversification into the branded consumer goods space. AEV is well-positioned to support CCBPI’s growth ambition through the synergies which could be generated from AEV’s other business interests in the country. The acquisition would also build on CCEP’s successful expansion into Australia, Pacific & Indonesia in 2021.