Coca-Cola European Partners announced on May 28, 2016 that the combination of Coca-Cola Enterprises, Coca-Cola Iberian Partners, and Coca-Cola Erfrischungsgetränke is now complete.
Coca-Cola Co. shook up its management on May 24, 2016 replacing the heads of its Asia and Africa businesses, in the first major move by President and Chief Operating Officer James Quincey to put his stamp on the beverage giant.
Mr. Quincey, who now looks more likely than ever to succeed Coke Chief Executive Muhtar Kent, also is realigning the international structure.
The company is creating a consolidated Europe, Middle East and Africa group in the latest attempt to boost profit and revenue amid sluggish soda sales.
Court denies request to stop city from requiring health warnings on advertisements
San Francisco is set to become the first U.S. city to require health warnings on advertisements for soda and other sugar-added drinks after the beverage industry failed Tuesday to get a court order to stop it.
Economic Development Minister Ebrahim Patel has welcomed commitments between the Coca-Cola Beverages Africa (CCBA) merger parties - SABMiller Plc, The Coca-Cola Company and Gutsche Family Investments, as well as the South African government.
The commitments will be recommended to the Competition Tribunal in connection with the proposed creation of Africa's largest soft drink beverage bottling operation.
SABMiller and Coca-Cola have agreed with the South African government to win approval for a deal to combine their soft-drink operations.
The agreement with the South African Ministry of Economic Development includes a three-year freeze on layoffs and the companies investing 800 million rand ($54 million) to support small South African businesses.
Reyes Holdings announced that its Chicago-area Coca-Cola distributor, Great Lakes Coca-Cola Distribution, has entered into a letter of intent with The Coca-Cola Company to acquire six production facilities in Alsip and Niles, Ill.; Detroit and Grand Rapids, Mich.; Eagan, Minn.; and Milwaukee, Wisc.
Coca-Cola reported that revenue and profit declined in its latest quarter as soda volume was flat amid weakness abroad.
Shares, up 13% over the past three months, fell 1.8% premarket to $45.77, although results edged in just above Wall Street's expectations.