Coca Cola Philippines unit acquires logistics firm

MANILA, Philippines — Coca Cola Beverages Philippines Inc. (CCBPI) is acquiring logistics provider The Red Systems Co. Inc. (TRCI), a move that will see the  regularization of the latter’s 1,800 workers.

In a statement, CCBPI said it has started the process of absorbing TRCI’s operations into the company.  The merger, however, would still need the approval of relevant government agencies.

TRCI has been CCBPI's authorized delivery provider for  Coca-Cola products  in different parts of the country. 

After the merger is completed, TRCI’s 1,800 workers would become regular employees of CCBPI.

CCBPI’s merger with TRCI was finalized after taking a close look at the two firms’ strengths and challenges.

“In the course of the years that we have been engaging with TRCI, we have witnessed from them a degree of professionalism and efficiency that complements CCBPI’s ambitious goals for continuous growth and industry excellence,” CCBPI president and chief executive officer Gareth McGeown said.

He said the Department of Labor and Employment (DOLE) also provided guidance to the companies to make the merger possible.

“The culmination of this process, through close coordination with the DOLE, proves that joint endeavors between the private and public sectors can be mutually beneficial,” he said.

CCBPI sees the merger as a testament to the company’s intention to continue operations in the country.

“CCBPI has always firmly believed that its strength lies in its people–and the merging of TRCI into the fold only underscores this. The company has served the Philippines for more than a hundred years, and it seeks to serve the Filipino people for at least another hundred more,” said Drew Fernandez, vice president for people at CCBPI.