BIZ BUZZ: Coca-Cola PH gets a new name
New year, new name?
This is exactly the case for a beloved soda that is probably sitting in your refrigerator.
As a result of the Aboitiz Group’s major investment, Coca-Cola Beverages Philippines Inc. was christened Coca-Cola Europacific Aboitiz Philippines Inc. (CCEAP).
“Our new name signifies an exciting new phase in our journey as we reaffirm our commitment to serving our customers, supporting our people and communities and driving long-term growth for the country,” Gareth McGeown, president and CEO of CCEAP, said in a statement.
For his part, Aboitiz Group president and CEO Sabin Aboitiz sees Coca-Cola Philippines’ new era as a symbol of “the strength of our partnership with Coca-Cola Europacific Partners (CCEP).”
This is perhaps one of the first major changes since Aboitiz Equity Ventures Inc. and CCEP acquired the beverage giant in February 2024.
The name change was in effect by last Wednesday, following the approval of the Securities and Exchange Commission.
Exciting times are indeed ahead for all the parties involved in this takeover. After all, Coca-Cola’s entry into Aboitiz gave a significant boost to the latter’s food unit.
The question is: What’s next?
