COCA-COLA JAPAN CO. acquires 34% interest in TOKYO COCA-COLA Bottling Co.BOTTLING COMPANY
Company and Bottler Celebrate 50th Anniversary
TOYKO,- The Coca-Cola Japan Company (the “Company”) and Tokyo Coca-Cola Bottling Company, Limited (the “Bottler”) today announced that they have reached a definitive agreement under which the Company will acquire a 34% ownership stake in the Bottler through the purchase of newly-issued shares.
On June 25, the Company celebrated its 50th anniversary. The Bottler, meanwhile, the first Coca-Cola bottling partner in Japan, is also commemorating 50 years in business this year. Over the past 50 years, both companies played leading roles in the Coca-Cola system in Japan, and both exerted great efforts toward the development of the Coca-Cola business in Japan.
This transaction reflects the commitment of both companies to effectively build a mutually strong, close relationship between them in both word and deed in order to realize and further the sustainable growth of the Coca-Cola system in the Japanese market over the next 50 years and beyond. Under the terms of the agreement, the Company will work with the Bottler to identify a new president and appoint one third of the Board. Representative Director and President of the Bottler, Keiji Takanashi, will continue in management as chairman and chief executive officer and representative director, whereby supporting the new management team.
As strategic partners, both companies will collaborate in tackling new initiatives in the Tokyo market as they head toward the future, and will strive towards realizing synergies for the Coca-Cola system in order to achieve sustainable growth at a level higher than at present.
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