Coca-Cola bottlers confirm merger

Aug. 07, 2015 2:31 AM ETThe Coca-Cola Company (KO)KO, CCEPBy: Yoel Minkoff, SA News Editor10 Comments
  • Three Coca-Cola bottlers have agreed to a merger combining $12B in revenue across 13 European countries, as part of a global consolidation push by Coke (NYSE:KO) to cut costs amid slowing sales.
  • Under the new tie-up, Coca-Cola Enterprises (NYSE:CCE-OLD) would relocate its headquarters to the U.K., merging with Spanish and German operations to form "Coca-Cola European Partners".
  • The bottlers expect the move to generate annual cost savings of $350M-$375M within three years.
  • Previously: Coca-Cola Enterprises to combine with two other European bottlers (Aug. 06 2015)
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