The Coca-Cola Company has been present in France for the last 100 years, serving as a key contributor to the food and beverage industry. The Coca-Cola system has always been an integral part of the French economic ecosystem, especially through the production and distribution activities of bottling companies in the country.
At the occasion of the Choose France Summit, Coca-Cola Chairman and CEO James Quincey announces a major investment plan over the next five years as part of the company's long-term commitment to France. This investment plan will be discussed during a meeting between James Quincey and President Emmanuel Macron on Monday September 20th in the frame of the Summit.
The Coca-Cola Company and Coca-Cola European Partners (CCEP), the primary bottling partner in the country, together plan to invest as much as one billion euros behind the introduction of new products in the French market; the expansion of bottling capacity and modernization at CCEP's manufacturing plants; innovations; and ongoing support of company brands. Both companies will support the hosting of the Paris 2024 Olympic Games, following the extension of a partnership between Coca-Cola and the IOC, which was announced in July 2019.
CCEP has earmarked €500 million to further strengthen its production and distribution network.
After investing €350 million since 2013, CCEP continues to invest to adapt its manufacturing network to changes in consumer preferences and to accelerate its transition to a circular economy, including packaging transformation.
For example, after adding a bottling line dedicated to glass bottles in 2019, CCEP will invest in the plant in Socx (Dunkerque) to equip the site with a state-of-the-art aseptic bottling line in mid-2020, which will enable CCEP to meet the increasing consumer demand for Fuze Tea, the ready-to-drink tea brand launched in 2018, and for Tropico, the juice drink company acquired by The Coca-Cola Company in September 2018. Additional investments across all five CCEP plants in France will enable the introduction of a higher quantity of recycled material in bottles and cans and the replacement of plastic by cardboard for secondary packaging.
The €500 million in investments will be progressively committed over the next five years in production and commercialization and will include a provision for CCEP to invest in new cooling equipment for its customers and in accelerating the company's digitalization journey.
In parallel, The Coca-Cola Company will invest €500 million to support the development of its current brands and introduce new products in the French market.
Coca-Cola is evolving as a total beverage company that focuses on better satisfying consumer needs. Following the successful launch of Fuze Tea and the acquisition of Tropico in 2018, the company today confirmed its intent to strengthen its existing positions and accelerate its entry into new categories.
Coca-Cola will invest as much as €500 million in France over the next five years. These investments will be a combination of media, brand experiences or strategic partnerships, such as the support of the Paris 2024 Olympic Games.
'Coca-Cola has been part of France for a century, and our presence today includes more than 2,800 people who work for Coca-Cola in France, plus many more across our entire value chain,' Quincey said. 'Today's announcement shows continued commitment to France, helping to build the French economy and contributing to sustainable French communities for years to come.'
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is a total beverage company, offering over 500 brands in more than 200 countries and territories. In addition to the company's
Coca-Cola brand, our portfolio includes AdeS, Ayataka, Costa, Dasani, Del Valle, Fanta, Georgia, Gold Peak, Honest, innocent, Minute Maid, Powerade, Simply, smartwater, Sprite, vitaminwater and ZICO. We're constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We're also working to reduce our environmental impact by replenishing water and promoting recycling. With our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide. Learn more at www.coca-colacompany.com and follow us on Twitter, Instagram, Facebook and LinkedIn.
About Coca-Cola European Partners
Coca-Cola European Partners plc is a leading consumer goods company in Western Europe, selling, making and distributing an extensive range of non-alcoholic ready to drink beverages and is the world's largest Coca-Cola bottler based on revenue.
Coca-Cola European Partners serves a consumer population of over 300 million across Western Europe, including Andorra, Belgium, continental France, Germany, Great Britain, Iceland, Luxembourg, Monaco, the Netherlands, Norway, Portugal, Spain and Sweden.
The Company is listed on Euronext Amsterdam, the New York Stock Exchange, London Stock Exchange and on the Spanish stock exchanges, currently trading under the symbol CCEP. For more information about CCEP, please visit our website at www.cocacolaep.com and follow us on Twitter at @CocaColaEP.