MANILA, Philippines — Following its change of ownership, Coca-Cola Beverages Philippines Inc. (CCBPI) will now be known as Coca-Cola Europacific Aboitiz Philippines Inc. (CCEAP).
The company said it has obtained approval from the Securities and Exchange Commission for the change of its legal name effective Jan. 15, 2025.
The change in the company’s name comes after Coca-Cola Europacific Partners Plc (CCEP) and Aboitiz Equity Ventures Inc. (AEV) completed the acquisition of CCEAP in February 2024.
“More than anything, this new name represents the strength of our partnership with Coca-Cola Europacific Partners. We share a solid commitment to our customers and communities, and with this new identity, we believe we can make a much more meaningful impact,” Aboitiz Group president and CEO Sabin Aboitiz said.
CCEAP president Gareth McGeown said the new name signifies an exciting new phase in the company’s journey as it reaffirms its commitment to serving its customers, supporting people and communities as well as driving long-term growth for the country.
“In the 113 years that Coca-Cola has called the Philippines home, we look forward to a hundred more years of refreshing our consumers and making a difference through our great people, great beverages, great execution and great partners – done sustainably,” McGeown said.
AEV and CCEP acquired CCBPI from Atlanta-based The Coca-Cola Co. for $1.8 billion. CCEP owns 60 percent of CCEAP, while AEC holds the remaining 40 percent.
The acquisition builds on AEV’s portfolio diversification strategy to enter the branded consumer goods spaces.
CCEAP is the bottling partner and official distributor of Coca-Cola products in the Philippines.
It operates across 18 manufacturing facilities and almost 70 distribution centers and sales offices nationwide, offering 20 brands in its beverage portfolio and employing around 9,000 Filipinos.