Coca-Cola Enterprises (CCE) is set to release the results from its first quarter tomorrow (27 April). Below, we take a look at the highs and lows for the firm in the three months to the end of March.
- In February, CCE reported a swing to full-year profits as volume growth in Europe offset a decline in North America. The US bottler reported a net income of US$731m for the 12 months to 31 December. This compared to a loss of $4.39bn in the previous year.
- In the same month, The Coca-Cola Co confirmed the acquisition of the North American operations of CCE. As part of the deal, CCE bought Coca-Cola’s bottling operations in Norway and Sweden for $822m. It will also have the right to acquire Coca-Cola’s 83% equity stake in its German bottling operations 18 to 36 months after closing for fair value.
- In March, CCE lined up new drinks launches for partners Ocean Spray and Monster Energy in the UK and insisted it was “business as usual” in 2010, despite the Coca-Cola transaction. CCE became the official distributor of Ocean Spray in the UK on 16 February and the pair lined up a relaunch of the Ocean Spray range from 1 March, with the addition of a Blueberry version.
- Also in March, CCE partnered with Diageo to announce plans for the launch of a GBP4m (US$6m) marketing campaign in the UK, focusing on cocktail culture among the growing number of home drinkers. The campaign will run over the summer and, although it will encompass training for staff across 10,000 freehold pubs, it is largely aimed at off-trade sales.
- In the same month, CCE said it had identified a GBP1.4bn growth opportunity in the UK on-trade over the next five years. The opportunity, identified as part of CCE’s ‘Open More Business’ soft drinks report published in March, is based on existing soft drinks consumers buying one extra soft drink every fortnight.
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