According to the announcement issued by China Food Co., Ltd. (the major shareholder of COFCO Coca-Cola) and Swire Company, the transaction of acquiring the non-carbonated beverage business of Coca-Cola China was completed on 1 month/day, 2023. China Food said that after the transaction is completed, the target company will become a subsidiary of China Food, and its financial performance will be comprehensively included in the financial statements of this company of the Group.
Coca-Cola Company and its bottling partners in China-Swire Coca-Cola Co., Ltd. and COFCO Coca-Cola Beverage Co., Ltd. split the production and operation of the non-carbonated beverage business of the former Coca-Cola Bottler Production Holding Co., Ltd. into Swire Coca-Cola Co., Ltd. and COFCO Coca-Cola Beverage Co., Ltd. through equity transfer. Coca-Cola China said that this equity change will realize the regional production of Coca-Cola's non-carbonated beverage business in China, optimize the efficiency of production management and enhance the synergy of supply chain. At the same time, Coca-Cola China also said that this equity change will not affect the supply and consumers in various markets.
It is understood that this acquisition of Coca-Cola Bottle Production Holding Co., Ltd. is held by three parties, and the shareholding ratios of Coca-Cola South Asia Holdings and Coca-Cola China Industry (a direct or indirect wholly-owned subsidiary of Coca-Cola), Xingju (a wholly-owned subsidiary of Swire) and COFCO Beverage (a wholly-owned subsidiary of COFCO Coca-Cola) are 38%, 4 1% and 2 1% respectively.
The business involved in this transaction includes Coca-Cola China's non-carbonated beverage production companies and branches in 13 cities, including functional water, fruit juice, tea drinks, milk-containing drinks and coffee, which are distributed by bottlers in various provinces in China. The main brands are Minute Maid, Shuile, Chunyue, Chun Tea House, Costa Cafe Family (bottled drinks) and so on. Swire announced that Swire will acquire Coca-Cola bottlers in Nanning, Hangzhou, Foshan, Wuhan, Dongguan and Suzhou. COFCO Coca-Cola will acquire Coca-Cola bottlers in Yingkou, Jinan, Changsha, Shijiazhuang and Chengdu.