BPI engaged as lender for AEV, CCEP landmark acquisition of Philippine

Coca-Cola operations

Aboitiz Equity Ventures, Inc. (AEV) and Coca-Cola Europacific Partners Plc (CCEP) have engaged the Bank of the Philippine Islands (BPI) to partly finance the acquisition of Coca-Cola Beverages Phils., Inc. (CCBPI) from The Coca-Cola Company (TCCC), Atlanta.

The acquisition of CCBPI, the bottling arm of Coca-Cola in the country, was completed on February 23, 2024, at a deal valued at USD 1.8 billion and an agreed 60:40 ownership structure between CCEP and AEV. The acquisition builds on CCEP’s successful expansion into Australia, Pacific & Indonesia (API) in 2021.

“This collaboration is a testament to our unified commitment to driving economic growth in the Philippines—creating value not only for our stakeholders but also for the communities we serve,” said Sabin Aboitiz, AEV President and CEO.

“This partnership is founded on mutual trust and shared goals, and we thank Aboitiz and Coca-Cola for the trust and confidence in BPI,” said TG Limcaoco, BPI President and CEO. “With this collaboration, we take a significant step towards supporting growth strategies and job creation. At BPI, we strive to create more business opportunities as we contribute to building a better Philippines—one family, one community at a time.”

CCBPI is engaged in the manufacturing, production, sale, and trade of both non-alcoholic and alcoholic beverages with brands including Coke, Royal, Sprite, Wilkins, and Nutriboost. To date, CCBPI operates 18 manufacturing facilities and almost 70 sales offices and distribution centers across the country.