By Deborah Jackson
Coca-Cola European Partners’ acquisition of Coca-Cola Amatil has closed, creating Coca-Cola Europacific Partners (CCEP), the new business unit, which includes Australia, Indonesia, Papua New Guinea, New Zealand, Fiji, and the Pacific Islands.
Reporting its first quarter 2021 results, the company highlights strong post pandemic recovery in Australia and New Zealand where lockdowns have eased. Results in these markets were a stark contrast to Europe where conditions remain challenging.
Looking specifically at the Australia, Pacific, Indonesia (API) region, revenue in Australia is up 8%, Pacific is up 11%, and Indonesia is down 3%.
Damian Gammell, Chief Executive Officer, said: “Trading conditions remained similar to the last quarter of 2020, with renewed restrictions in many of our markets impacting the away from home channel. We have been able to keep on winning, gaining value share in store and online, through our ability to adapt, strong execution and continued focus on our core brands.
“While the pandemic persists and the precise nature and timing of the recovery is unknown, there is optimism ahead. Indeed, the strong post pandemic recovery in two of our new markets, Australia and New Zealand, highlight the positive impact of increased mobility, which will in time come to our other markets.
“In Europe, although conditions remain challenging, we are encouraged by an improving trend across the quarter, especially in GB, with good at-home consumption. Early and decisive in-market actions taken by our colleagues, our disciplined investments in the longer term and our focus on driving efficiencies throughout our business, collectively ensure we will emerge stronger than before.
“We are delighted that the acquisition of Coca-Cola Amatil has closed and we are now Coca-Cola Europacific Partners. Bringing together two of the world’s best bottlers provides exciting growth opportunities and an even stronger strategic relationship with The Coca-Cola Company. We will go further, together, creating value for shareholders and a better, more sustainable future for all stakeholders.”
Source: c-store.com.au
