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| Tuesday, 9 March 2004 |
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Coca-Cola Sabco to take ownership of bottling operation in Lanka Coca-Cola Sabco (Pvt) Ltd. (CCS) has reached agreement with The Coca-Cola Company to purchase its Company-owned Bottling Operation in Sri Lanka as soon as all regulatory and other consents are received. The acquisition has been approved by the Boards of both organisations, and the formal deal closings are expected in the near future. CCS, a Coca-Cola bottling partner currently based in Southern and East Africa, will take ownership of the bottling operation in Sri Lanka on formal closings. The Coca-Cola Company, through its subsidiaries, will continue to run this plant until the formal closings occur. Coca-Cola Sabco has been The Coca-Cola Company's valued bottling partner in Africa for more than 60 years and during this time, has established itself as a business that can grow successfully in challenging environments. The company currently operates in seven Southern and East African countries, and employs more than 7,000 people. It currently operates 21 bottling plants and aims to fulfil the refreshment needs of the more than 156 million consumers who live in its markets. It is the only Africa-based 'Anchor Bottler' in the global Coca-Cola system. The organisation has been able to produce sustainable growth in volume, operating profit and Return on Capital Employed over the last five years. These results are significant in that they have been achieved in markets with very low GDP per capita. |
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