US: Coca-Cola Co in talks to buy CCE operations - report
By just-drinks.com editorial team | 25 February 2010
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Coca-Cola Co u-turn on bottler strategy - report |
The Coca-Cola Co is in talks to buy the North American operations of its largest bottler, Coca-Cola Enterprises (CCE), according to reports.
This story has been updated. Click here for the update.
It is understood the deal, including debt, could have a value of more than US$15bn, said the Wall Street Journal, which first reported the talks last night. The boards of both companies were expected to meet last night, it said.
Representatives for Coca-Cola and CCE could not be immediately reached for comment.
If confirmed, the news represents a significant u-turn in Coca-Cola Co's thinking.
After PepsiCo last year signed a deal to buy out its major bottlers, PepsiAmericas and Pepsi Bottling Group, Coca-Cola Co distanced itself from this approach to consolidation with its own bottlers.
CMO Joe Tripodi told just-drinks that the firm believed strongly that Coca-Cola Co is a business at a local level that is best left in the hands of a local distributor.
"We don't want to be in the business where we're owning and managing the bottlers outright,” he said.
Sectors: Soft drinks, Water
Companies: Coca-Cola Co, CCE, PepsiCo, PepsiAmericas, Pepsi Bottling
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US: Coca-Cola Co in talks to buy CCE operations - report
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