JAPAN: Coca-Cola seeks further acquisitions

By just-drinks.com editorial team | 13 May 2008

Drinks giant Coca-Cola Co., is seeking more acquisition opportunities in the fast-growing soft drinks market to expand its revenue sources, according to reports by Reuters.

The company's CEO-in-waiting, Muhtar Kent told reporters at the Foreign Correspondents' Club of Japan today (13 May) that sales of established soft drinks are declining in the US as people opt for healthier alternatives like bottled water and tea.

"You will see us grow organically as well as through targeted acquisitions," said Kent, who is due to become chief executive officer on 1 July.

Kent told reporters that such acquisitions would not be large, and the company was looking globally for opportunities, but didn't confirm where.

The soon-to-be CEO also informed attendees of Coke's long-term targets of increasing annual sales volume by 3-4%, operating income by 6-8% and earnings-per-share by a high single-digit percentage rate.

Sectors: Soft drinks

Companies: Coca-Cola Co, Coke