WOOD Flash – Coca-Cola Icecek: CEO comments on M&A outlook
Yesterday (12 November), Coca-Cola Icecek’s (CCI) CEO, Mr. Basarir, commented on the M&A outlook, as the company has reported its lowest debt level since going public (0.54x at the end-3Q20). The CEO commented that CCI’s focus currently is on growing the core business, with the addition of new territories through either local partnerships (such as the JV in Pakistan) or via a takeover of the bottling rights. No comments were made on what countries could be of interest for CCI, nor any details on the potential timing.Coca-Cola Icecek is a bottler and distributor of alcohol-free beverages in Turkey, Pakistan, Central Asia and the Middle East. Co. focuses on the production, sales and distribution of sparkling and still beverages with The Coca-Cola Company (TCCC) trademarks. Co. has rights to produce, sell and distribute TCCC branded beverages including Coca-Cola, Coca-Cola Zero, Coca-Cola Light, Fanta, Sprite, Cappy, Sen Sun, Powerade and Fuse Tea in TCCC authorized packages throughout Turkey. Co. also has the right to produce, sell and distribute Burn and Gladiator branded energy drinks throughout Turkey, as well as bottling and distribution rights in Turkey for Schweppes branded beverages.
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