Coca-Cola Beverages Philippines changes company name

Coca-Cola Beverages Philippines Inc. (CCBPI), the bottling partner and official distributor of Coca-Cola products in the country, on Wednesday officially changed its legal name to Coca-Cola Europacific Aboitiz Philippines Inc. (CCEAP).

CCEAP said it obtained approval from the Securities and Exchange Commission (SEC) for the change effective January 15, 2025, following the company’s acquisition by Coca-Cola Europacific Partners (CCEP) and Aboitiz Equity Ventures Inc. (AEV) in 2024.

“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,” CCEAP president and chief executive officer Gareth McGeown said in a statement.

CCBPI was acquired from The Coca-Cola Company for $1.8 billion on a debt-free and cash-free basis last year. This resulted in CCBPI owning 60% and AEV holding the remaining 40%.

“More than anything, this new name represents the strength of our partnership with Coca-Cola Europacific Partners,” Aboitiz Group president and chief executive officer Sabin Aboitiz said.

“We share a solid commitment to our customers and communities, and with this new identity, we believe we can make a much more meaningful impact,” he added. — VBL, GMA Integrated News