The Coca-Cola Japan Company has acquired just over one-third of a bottler in the country.

Coca-Cola Japan confirmed yesterday (25 June) that it has agreed with the Tokyo Coca-Cola Bottling Company to buy a 34% in the bottler through the purchase of newly-issued shares.

Under the terms of the agreement, Coca-Cola Japan said it will work with the bottler to "identify a new president and appoint one third of the board". Representative director and president of the bottler, Keiji Takanashi, will continue as chairman and CEO and representative director.

"As strategic partners, both companies will collaborate in tackling new initiatives in the Tokyo market as they head toward the future, and will strive towards realising synergies for the Coca-Cola system in order to achieve sustainable growth at a level higher than at present.," Coca-Cola Japan said.