Coca-Cola Beverages Philippines announces merger with Red Systems

Coca-Cola Beverages Philippines Inc. (CCBPI) on Thursday announced its upcoming merger with logistics firm The Red Systems Co. Inc.

In a statement, Coca-Cola Philippines said the beverage company and The Red Systems have initiated the process to merge the "latter’s operations into CCBPI."

The merger is subject to the approval of relevant government entities.

The Red Systems is a logistics company that Coca-Cola Philippines has been engaging to ensure that Coca-Cola products are delivered to partners and consumers nationwide.

Coca-Cola Philippines said its acquisition of the logistics firm will also effectively see to the regularization of the 1,800 The Red Systems personnel who are already undergoing onboarding into the Coca-Cola.

“CCBPI has always firmly believed that its strength lies in its people—and the merging of The Red Systems into the fold only underscores this. The Company has served the Philippines for more than a hundred years, and it seeks to serve the Filipino people for at least another hundred more,” Drew Fernandez, CCBPI vice president for People, said.

Coca-Cola Philippines said its planned merger with The Red Systems was set in motion on August 17, 2019.

The merger was finalized following a careful analysis of the current strengths and challenges of both companies, and leaned heavily on the close working relationship that the two companies have forged, the beverage makers said.

“In the course of the years that we have been engaging with The Red Systems, we have witnessed from them a degree of professionalism and efficiency that complements CCBPI’s ambitious goals for continuous growth and industry excellence," Coca-Cola Philippines president and CEO Gareth McGeown said.

“With this merger, we demonstrate our continued confidence and support for the country’s economy and its people, whom we ever so proudly serve," McGeown said. —LDF, GMA News