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Tag: coca-cola

  • Coca-Cola closer to sale of Costa Coffee – reports

    Coca-Cola closer to sale of Costa Coffee – reports

    The Coca-Cola Company is said to have received a bid from Bain Capital’s Special Situations division for its well-known café chain, Costa Coffee. Established in London in 1971 by brothers Bruno and Sergio Costa, the business started as a wholesale operation providing roasted coffee. The coffee chain caught the attention of Whitbread, which acquired the business in 1995. Later, in 2018, Costa Coffee was sold to The Coca-Cola Company for roughly £3.9 billion, equivalent to approximately US$5.1 billion at the time of the transaction.

    Bain Capital’s Bid

    The Special Situations unit of Bain Capital, which has previously invested in British bakery and café chain Gail’s as well as restaurant chain PizzaExpress, has proposed an initial bid for the UK-based coffee chain. Besides Bain, private equity firm TDR Capital has also expressed interest in the deal.

    Costa Coffee’s Global Presence

    Costa Coffee has grown significantly since its establishment, expanding its presence to over 50 countries. It currently maintains more than 2700 stores across the UK and Ireland and operates in more than 1300 locations in other global markets.

    Challenges Amidst the Pandemic

    Despite its global reach and popularity, Costa Coffee has grappled with increasing costs and a decline in consumer spending due to the Covid-19 pandemic. The café chain reported an annual loss of £13.8 million and revenues of £1.2 billion in 2023.

    Bain Capital’s Recent Acquisitions

    Bain Capital has a history of acquiring food and beverage establishments. For instance, the firm purchased the restaurant franchise growth platform Sizzling Platter in July, which operates several well-known brands such as Little Caesars, Wingstop, and Dunkin’.

    Questions & Answers

    Who initially founded Costa Coffee and when was it established?
    Costa Coffee was established by brothers Bruno and Sergio Costa in London in 1971.

    Who submitted a bid for Costa Coffee?
    The Special Situations unit of Bain Capital has reportedly submitted a bid for Costa Coffee.

    What financial impact did the Covid-19 pandemic have on Costa Coffee?
    Due to the pandemic, Costa Coffee has faced a decline in consumer spending and rising costs, resulting in an annual loss of £13.8 million in 2023.

  • Coca-cola And Bacardi Unveil Premixed Rum Beverages, Marking Soda Giant’s Debut In Australian Alcoholic Rtd Market

    Coca-cola And Bacardi Unveil Premixed Rum Beverages, Marking Soda Giant’s Debut In Australian Alcoholic Rtd Market

    In a landmark collaboration, Coca-Cola Australia has joined forces with Bacardi to launch a premixed rum beverage line, signifying the first time the soda behemoth has ventured into the alcoholic ready-to-drink (RTD) market in the region.

    New Flavors on Offer

    The new rum mix range will introduce two flavors, Original and Spiced, to tantalize the taste buds of consumers. The beverages will be packaged in 330ml cans with an alcohol by volume (ABV) content of 4.8 per cent. These canned beverages are slated to hit the shelves at selected licensed locations nationwide within the month.

    Matthias Blume, Coca-Cola Australia’s VP of RTD, expressed exhilaration over the groundbreaking venture. He noted that the association with Bacardi, a brand renowned for superior taste and creating enjoyable experiences, enables them to delight consumers in an entirely novel manner.

    “This marks a significant milestone not just for the brand, but also for Australians who have long cherished Coca-Cola as their go-to mixer,” Blume added.

    A Historic Occurrence

    Historically, Bacardi made a significant acquisition in 1998 when it purchased John Dewar & Sons and Bombay Sapphire from Diageo for $2 billion. Now, in their new collaboration with Coca-Cola, the two brands are poised to create similar impact in the retail industry.

    In related news, Coca-Cola recently unveiled AI-powered vending machines in New Zealand.

    Questions & Answers

    What is the significance of the new rum mix range by Coca-Cola and Bacardi?
    The launch marks the first time Coca-Cola has ventured into the alcoholic ready-to-drink market in Australia, making it a significant milestone for the company.

    What flavors are being introduced in the new rum mix range?
    The new range includes two flavors: Original and Spiced.

    What was Bacardi’s major acquisition in 1998?
    In 1998, Bacardi acquired John Dewar & Sons and Bombay Sapphire from Diageo in a deal valued at $2 billion.

  • Coca-Cola Europacific VP Peter West Announces Retirement, Gareth Mcgeown To Take Helm

    Coca-Cola Europacific VP Peter West Announces Retirement, Gareth Mcgeown To Take Helm

    Peter West, the current Vice President and General Manager of Coca-Cola Europacific Partners’ Australia, Pacific, and Southeast Asia (APS) division, has announced his forthcoming retirement at the end of the year. His departure concludes an impressive 35-year trajectory in the Fast-Moving Consumer Goods (FMCG) sector.

    Contributions and Achievements

    West commenced his tenure with Coca-Cola Amatil in 2018, taking on the role of Managing Director for Australian beverages. He became an instrumental figure in incorporating the APS region into Coca-Cola Europacific Partners (CCEP) after the company’s successful acquisition in 2021.

    Damian Gammell, CEO of Coca-Cola Europacific Partners, praised West’s performance, noting that his contributions had been transformative for both the Australian division and the wider region. Gammell pointed out West’s profound industry knowledge, his comprehension of the market landscape, and his capacity to stimulate growth in various markets. These attributes have earned West widespread respect within and outside the company.

    Prior to his role at Coca-Cola, West held high-ranking leadership positions at prominent companies such as Lion Dairy & Drinks, Mars Confectionery, and Arnott’s.

    Leadership Transition

    West’s successor, as of January 1, will be Gareth McGeown, who is currently the General Manager of CCEP Philippines.

    Reflecting on his career, West claimed that his tenure at Coca-Cola, and his role in the expansion and growth of Coca-Cola Europacific Partners, were the highlights of his professional life. He expressed his excitement about passing his responsibilities to McGeown, praising his expertise, enthusiasm, and strong business acumen. West is confident that McGeown will maintain the momentum of growth in the region.

    Questions & Answers

    Who will succeed Peter West as the Vice President and General Manager of Coca-Cola Europacific Partners’ APS division?
    Gareth McGeown, the current General Manager of CCEP Philippines, will succeed Peter West.

    When did Peter West join Coca-Cola Amatil?
    Peter West joined Coca-Cola Amatil in 2018 as the Managing Director of Australian beverages.

    What companies did Peter West work for before joining Coca-Cola?
    Prior to Coca-Cola, West held leadership positions at Lion Dairy & Drinks, Mars Confectionery, and Arnott’s.

  • Coca-cola Unveils Ai-powered Vending Machine For Enhanced, Personalized Consumer Experience

    Coca-cola Unveils Ai-powered Vending Machine For Enhanced, Personalized Consumer Experience

    Coca-Cola has debuted its most recent innovation in the form of a Coke&Go cooler vending machine. This cutting-edge machine is powered by artificial intelligence (AI) and computer vision, creating an upgraded, efficient, and personalized vending experience for consumers.

    Enhanced Consumer Experience

    The Coke&Go cooler vending machine allows consumers to gain access via their smartphones. This can be done by either scanning a QR code or by inputting credit card information, providing a seamless and technologically advanced method of interaction. What sets this vending machine apart is its ability to identify products using a product recognition technology. This means that customers can confirm and complete their purchases through the payment options that they have linked with the system.

    Terry Burbidge, GM of vending at Coca-Cola Europacific Partners New Zealand, underlined that this move aims to align their products more closely with the modern lifestyle of their consumers. He stated, “It’s about making refreshment more intuitive, more accessible, and more aligned with how Kiwis live today.”

    Smart Inventory Tracking

    The latest version of this vending machine also comes equipped with smart inventory tracking. This feature ensures that the cooler vending machines are restocked with the correct beverages at the right time. In doing so, not only does it enhance efficiency, but it also significantly reduces the likelihood of items being out of stock.

    The soft drink behemoth has plans to expand the presence of this innovative vending machine following a successful trial at the Sydney Airport during the previous year. Over the course of the next two years, hundreds of these advanced cooler vending machines will be installed across Australia and New Zealand.

    Questions & Answers

    What is the Coke&Go cooler vending machine?
    The Coke&Go cooler vending machine is a new type of vending machine by Coca-Cola that uses artificial intelligence and computer vision to provide an efficient and personalized experience.

    How do consumers interact with the Coke&Go cooler vending machine?
    Consumers can interact with the machine using their smartphones, either by scanning a QR code or entering their credit card information.

    What are the benefits of the vending machine’s smart inventory tracking feature?
    The smart inventory tracking ensures that the vending machines are consistently stocked with the right beverages, which improves efficiency and reduces the chance of items being out of stock.

  • Coca-Cola Beats Earnings Expectations Despite Sales Dip; Unveils Cane Sugar Product For Us Market

    Coca-Cola Beats Earnings Expectations Despite Sales Dip; Unveils Cane Sugar Product For Us Market

    Coca-Cola’s quarterly earnings have surpassed expectations, the company reported on Tuesday, due to increased pricing. This comes despite a decrease in sales volumes in significant markets, and the announcement of a new Coca-Cola product made with cane sugar for the U.S. market.

    Higher Prices and Lower Volumes

    The boost in prices compensated for a 1 per cent decline in sales volumes, which had increased by 2 per cent in the previous two quarters. The decline was primarily due to a decrease in sales in essential markets, including Mexico and India, and within the Coca-Cola brand in the United States. After adjusting for certain items, the company made a profit of 87 cents per share, surpassing the expected 83 cents.

    Sales of higher-priced sodas have fluctuated in recent times, especially in wealthier nations, as consumers with lower incomes become more price-sensitive.

    Healthier Substitutes

    In response to demands for healthier alternatives, food companies are looking to diversify their offerings. Recently, President Donald Trump announced that Coca-Cola had agreed to use real cane sugar in the United States. Coca-Cola’s CEO, James Quincey, stated during a post-earnings call that the company is exploring different sweetening options to meet consumer demand. This new cane sugar product will “complement” the company’s existing range, he added.

    Competing brand PepsiCo, which also exceeded quarterly earnings estimates recently, stated it would use natural ingredients if consumers expressed a preference for them.

    International Success and Domestic Challenges

    Coca-Cola already sells Coke made with cane sugar in various markets, including Mexico. Some U.S. grocery stores also offer glass bottles of Coke made with cane sugar, labelled as “Mexican” Coke.

    However, the transition to cane sugar will increase costs, including significant changes to supply chains, according to industry analysts. Higher-priced products could also put pressure on consumer budgets, as Quincey acknowledged that sales volumes in North America decreased due to continuing uncertainty and pressure affecting certain socioeconomic consumer segments.

    Coca-Cola maintains that the cost implications due to “global trade dynamics” are manageable. Approximately 61 per cent of the company’s revenue is derived from overseas markets.

    Higher Pricing and Volume Recovery

    Coca-Cola’s comparable revenue for the three months ending June 27 rose 2.5 per cent to $12.62 billion, outperforming the forecasted $12.54 billion. Quincey stated that a boycott-related drop in demand in the U.S. and Mexico has largely been resolved.

    Annual comparable earnings per share are expected to be near the upper limit of the company’s target increase range of 2 to 3 per cent, aided by a weaker dollar.

    Sales volumes of Coca-Cola Zero Sugar soared, with a 14 per cent increase recorded across all geographies.

    Questions & Answers

    What was the cause of the decrease in Coca-Cola’s sales volumes?
    The decrease in sales volumes was primarily due to a decline in sales in key markets such as Mexico and India, and within the Coca-Cola brand in the U.S.

    Is Coca-Cola planning to introduce new products to the market?
    Yes, Coca-Cola has announced it will introduce a new product made with cane sugar to the U.S. market as part of their commitment to meet consumer demand for healthier alternatives.

    What is the outlook for Coca-Cola’s annual comparable earnings per share?
    The annual comparable earnings per share are expected to be near the upper limit of Coca-Cola’s target increase range of 2 to 3 per cent, aided by a weaker dollar.

  • Coca-Cola Europacific Partners unveils its largest canning line yet

    Coca-Cola Europacific Partners unveils its largest canning line yet

    Coca-Cola Europacific Partners is making waves in the beverage industry with the launch of its most extensive and efficient canning line to date. The new facility is located in Richlands, Brisbane.

    A hefty investment of $75 million has been made towards the establishment of this production line, capable of processing an impressive 2,000 cans per minute. This translates to 120,000 cans per hour and nearly 3 million cans per day.

    This new development primarily aims to ramp up the production of Monster Energy products, in response to the escalating demand for energy drinks by consumers. However, it won’t be limited to the Monster Energy brand. The production line will also serve as a manufacturing hub for other beverages under the Coca-Cola Europacific Partners umbrella, including Coca-Cola, Sprite, and Fanta.

    Orlando Rodriguez, the Managing Director of Coca-Cola Europacific Partners Australia, spoke about the company’s long-standing commitment to manufacturing in Australia. He commented, “We have a rich history of manufacturing in Australia that spans nearly 90 years, and we remain deeply invested in our operations.”

    The construction of this development was a grand endeavor, employing 250 contractors over a two-year period. Once it reaches full operational status, the project is expected to generate 18 full-time jobs.

    Rodriguez further highlighted the benefits of the new line, saying, “Through the use of revolutionary technology and top-tier equipment, our new line will enhance our production efficiency. This allows us to deliver our beverages to Australians faster and in a more sustainable manner.”

    One of the key features of the new canning line is its reverse osmosis system, which has amplified its water treatment capacity by 67%.

    Furthermore, the line’s capacity to fill cans at room temperature is projected to cut down energy consumption by 23% annually. This is in comparison to other production lines within Coca-Cola Europacific Partners’ network.

    Questions & Answers

    What is the processing capacity of the new canning line?
    The new canning line can process 2,000 cans per minute, which equates to 120,000 cans per hour and nearly 3 million cans a day.

    What brands will be produced on the new line?
    The new canning line will primarily focus on producing Monster Energy Company products. However, it will also produce Coca-Cola, Sprite, Fanta, and other beverages under the brand.

    What sustainability features does the new canning line have?
    The line integrates a reverse osmosis system, increasing water treatment capacity by 67%. Moreover, its feature of filling cans at room temperature is expected to reduce energy consumption by 23% annually.

  • Coca-Cola buys Finnish vodka label Finlandia for $342 million

    Coca-Cola buys Finnish vodka label Finlandia for $342 million

    Coca-Cola HBC (Hellenic Bottling Company) has purchased Finlandia Vodka from liquor giant Brown-Forman for $342 million (US$220 million), subject to adjustments related to inventory and other working capital items.

    The beverage giant says the acquisition will bolster Coca-Cola HBC’s premium spirits credentials and drive mixability opportunities with premium and super premium non-alcoholic ready-to-drink (NARTD) products, capturing more consumers and strengthening partnerships in strategically important channels such as HoReCa (hotel-restaurant-catering)

    Brown-Forman said the sale of Finlandia vodka is another step to its long-term strategic plan to premise its portfolio through brand innovation, acquisition, and divestiture.

    Established in 1970, Finlandia is one of the leading vodka brands in Central Eastern Europe with annual volumes of 2.7 million cases worldwide, of which more than 60 per cent is generated within Coca-Cola HBC’s geographic footprint.

    Anora Group bottles Finlandia in Finland based on a long-term production services agreement and is sold in pure and flavoured versions.

    “We are pleased to pass on the ownership torch of Finlandia to Coca-Cola HBC, who has proven to be a strong and reliable partner to our brands for more than 17 years,” said Lawson Whiting, CEO of Brown-Forman.

    “I am confident that Coca-Cola HBC’s growth ambitions and capabilities in premium spirits, its critical mass and execution excellence, and its leading sales and distribution credentials in the markets where it operates will accelerate Finlandia’s growth trajectory.”

    Brown-Forman’s roster of brands includes Jack Daniel’s Tennessee Whiskey, RTDs and other Jack Daniel’s-branded products, Woodford Reserve, Old Forester, Coopers’ Craft, The GlenDronach, Benriach, Glenglassaugh, Slane, Herradura, Fords Gin, and Diplomatico Rum.

    The company has approximately 5600 employees globally, and its brands are sold in more than 170 countries.

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  • Coca-Cola raises outlook amid revenue growth

    Coca-Cola raises outlook amid revenue growth

    The US-headquartered company saw net revenues increase in most of its markets, including Europe, Middle East & Africa (10 percent), Latin America (24 percent), and North America (6 percent). Meanwhile, revenues in Asia Pacific declined 2 percent.

    Revenues of global ventures and bottling investments were up 15 percent and 4 percent, respectively.

    Global unit case rose 2 percent and operating income grew 6 percent, with earnings per share up 9 percent to $0.71.

    “We delivered an overall solid quarter and are raising our full-year topline and bottom-line guidance in light of our year-to-date performance,” said James Quincey, chairman and CEO of The Coca-Cola Company.

    “Our leading portfolio of brands, coupled with an aligned and motivated system, positions us to win in the marketplace today while also laying the groundwork for the long term.”

    The company expects to deliver organic revenue growth of 10-11 percent. For comparable net revenues, it anticipates a 4 percent currency headwind based on the current rates and including the impact of hedged positions.

  • Coca-Cola raises outlook amid revenue growth

    Coca-Cola raises outlook amid revenue growth

    The Coca-Cola Company has raised its full-year guidance after its net revenue expanded 8 percent to US$12 billion for the third quarter.

    The US-headquartered company saw net revenues increase in most of its markets, including Europe, Middle East & Africa (10 percent), Latin America (24 percent), and North America (6 percent). Meanwhile, revenues in Asia Pacific declined 2 percent.

    Revenues of global ventures and bottling investments were up 15 percent and 4 percent, respectively.

    Global unit case rose 2 percent and operating income grew 6 percent, with earnings per share up 9 percent to $0.71.

    “We delivered an overall solid quarter and are raising our full-year topline and bottom-line guidance in light of our year-to-date performance,” said James Quincey, chairman and CEO of The Coca-Cola Company.

    “Our leading portfolio of brands, coupled with an aligned and motivated system, positions us to win in the marketplace today while also laying the groundwork for the long term.”

    The company expects to deliver organic revenue growth of 10-11 percent. For comparable net revenues, it anticipates a 4 percent currency headwind based on the current rates and including the impact of hedged positions.

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  • Coca-Cola launches limited-edition Y3000 Zero Sugar flavour

    Coca-Cola launches limited-edition Y3000 Zero Sugar flavour

    Coca-Cola Australia has launched a limited-edition flavor called Coca-Cola Y3000 Zero Sugar across the country.

    The company says the latest launch is the first “futuristic flavor” co-created by human and artificial intelligence from Coca-Cola Creations.

    Last year, the business established a new global innovation platform called Coca-Cola Creations, which brings new products and experiences across the physical and digital worlds through limited-edition sequential releases.

    Under this venture, Coca-Cola Y3000 Zero Sugar was the first product Coca-Cola Creations introduced in Australia.

    Livia De Salvo, marketing manager of Coca-Cola Australia, said: “With the help of AI-powered technology, Coca-Cola Y3000 Zero Sugar imagines how a Coca-Cola from the future tastes and introduces innovative experiences to explore the future.”

    The inspiration and look for the product come from fans’ perspectives combined with insights gathered from artificial intelligence.

    Coca-Cola also looked at flavor trends and preferences to understand what consumers think the taste of the future will be like. These were used as inspiration to help develop flavor profiles and pairings recommended by artificial intelligence.

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  • Coca-Cola franchisee posts $236M revenue in Vietnam

    Coca-Cola franchisee posts $236M revenue in Vietnam

    Swire Coca-Cola, a franchisee of the Coca-Cola Company, recorded a revenue of US$236.32 million in the first six months in Vietnam.

    Its pre-tax profit was around $33.21 million in the period.

    Swire Coca-Cola is a partner of the Coca-Cola Company with a franchise to manufacture, market, and distribute products of the Coca-Cola Company in China, Cambodia, Vietnam, and the western U.S.

    Swire Coca-Cola entered the Southeast Asia market in July last year by purchasing the manufacturing line of Coca-Cola in Vietnam and Cambodia for over $1 billion.

    Leaders of Swire Coca-Cola considered the Vietnam purchase successful as it had made considerable contributions to the company, while its unit in Cambodia is posting a loss.

    Coca-Cola entered Vietnam in 1994, producing its beverage in three factories.

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  • Coca-Cola Vietnam sets record of Vietnamese Tet table with the most participants

    Coca-Cola Vietnam sets record of Vietnamese Tet table with the most participants

    Coca-Cola Vietnam set a world record for the largest Vietnamese Tet meal table with the participation of 1,000 multi-generation families in Ho Chi Minh City on January 8.

    The meal was recognized as a record-setting event by the World Records Union (Worldkings). This record honors the tradition of family reunions over Tet meals and conveys the message that Tet may change, but the magic remains.

    A total of 436 tables were arranged into the shape of two Coca-Cola bottles at Hoa Lu Stadium. More than 3,000 people from 1,000 Vietnamese families were seated around the tables to enjoy a Tet party with various traditional dishes and share memories of family reunions.

    After two years of the Covid-19 pandemic, the Coca-Cola’s Tet event has returned, highlighting the meaning of family reunion that Coca-Cola wishes to bring to Vietnamese consumers.

    Leonardo Garcia, General Director of Coca-Cola Vietnam and Cambodia, said: “Coca-Cola has been part of millions of Vietnamese family dinners for almost 30 years. We know how important the Tet reunion meal is for Vietnamese. This year, with the Timeless Magic Table event, we bring back the memories of old Tet family meals with an ice-cold Coke, because we know those meals can connect family members of all generations, something that never changes.”

    Also in this event, Coca-Cola together with partner Al’s Fresco set the record for “The organization that gives away 1,000 pizzas to serve the most families in the same event in Vietnam.”

    The World Records Union officially recognized the record (Worldkings).

    Proud to be part of the Tet meals of millions of Vietnamese families, Coca-Cola strives to preserve and promote the values of friendship and community every Tet season.

    This year, Coca-Cola Vietnam has supported more than 5,400 underprivileged people across Vietnam with a total value of VND5.3 billion to help them celebrate Tet. This was achieved thanks also to the contribution of the community, the companion of associations, unions, strategic partners of the company as well as local authorities.

    Early on, Coca-Cola launched a campaign to contribute VND15,000 to the Vietnam Red Cross Tet Fund each time consumers interacted with the brand on its website. Coca-Cola and Vietnam Red Cross have supported 3,000 underprivileged people across the country through “0 VND Tet Market.”

    Under the campaign, more than 4,000 chung and tet cakes will also be sent to students, homeless, and self-employed people in Ho Chi Minh City and Hanoi, who cannot return to their hometown to celebrate Tet.

    In addition to the partnership with Vietnam Red Cross, this year, Coca-Cola has continued its tradition of handing out Tet gifts to families and disadvantaged people in the neighborhood of its factories. The program is supported and accompanied by the local People’s Committee, Women’s Unions and Departments of Labor, Invalids and Social Affairs to present 2,400 Tet gifts to underprivileged people and families in 13 provinces and cities.

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  • Casella Family Brands sells 35 vineyards

    Casella Family Brands sells 35 vineyards

    Southern Premium Vineyards has acquired 35 vineyards from wine group Casella Family Brands. The sale comprises 7215 hectares across South Australia and NSW, including water entitlements and plant and equipment attached to the vineyards. The vineyards are located across the Clare Valley, Langhorne Creek and Limestone Coast regions of South Australia, and the Riverina precinct in NSW.

    Southern Premium Vineyards (SVP) already owns about 460 hectares of vineyards in the Coonawarra in South Australia’s south-east and the Barossa Valley. Public Sector Pension Investment Board owns it is one of Canada’s largest pension investment managers. SPV director Nick Gill said, “SPV’s strategy is to offer wine companies a multi-regional grape supply solution for their winegrape sourcing as an alternative to owning or leasing vineyards – and a partnership with Casella is a perfect fit with this strategy.”

    John Casella said: “We are pleased to be entering this partnership with SPV, a platform of PSP Investments, which is an investor with a proven track record of successful long-term investment in agribusiness in Australia and around the world.

    “We are confident that SPV will continue to deliver the quality and consistency of the grapes we require, safeguard and preserve the vineyards and ensure the wellbeing of employees.”

    Marc Drouin, senior managing director, Real Assets and Global Head of Natural Resources Investments, PSP Investments, said, “Our commitment to sustainable farming combined with our long-term investment horizon allows PSP Investments to lever Australia’s unique global competitive position for its quality winegrapes.

    “Casella is a best-in-class group with an impressive portfolio of vineyards in some of the country’s most highly regarded wine regions.

    “This acquisition is a cornerstone investment for both SPV and PSP Investments’ global wine portfolio.”

    Casella put most of its vineyards in NSW and South Australia on the market in May, following a strategic review of the business.

    The review by Australia’s largest privately owned winemaker led to a decision to divert the company’s funds into brand-building rather than running vineyards. The Australian described the move as “the biggest single sale of vineyards as one lot in living memory in Australia”, which is anticipated to raise tens of millions of dollars for Casella. Casella has entered into long-term grape supply agreements for all 35 vineyards to ensure ongoing supply for its established brands.

    John Casella said: “The company is in a sound financial position, having recently experienced global record sales for Yellow Tail during the COVID-19 pandemic.

    “While demand has stabilised, we are forecasting future growth due to ongoing investment in our brands supported by a strategic innovation pipeline.

    “The intended strategic partnership will allow us to focus on strengthening our brands globally, and therefore deliver positive outcomes for the Australian wine ­industry.”

    Some Casella-owned vineyards located in the Riverina and Barossa were not included in the sale, as well as its Victorian vineyards, which include Baileys of Glenrowan and Morris of Rutherglen. The company plans to use the funds to build its growing wine brand portfolio, create new alcoholic beverage brands – in categories such as spirits, beer and seltzer – and expand its whisky distilling business.

    Coca-Cola Europacific Partners sold its stake in Australian Beer Co (ABCo), which is located next door to the Casella winery in Yenda, NSW, to Casella Family Brands in January.

    Coca-Cola Europacific Partners vice-president and general manager for Australia, Pacific & Indonesia, Peter West said: “Casella Family Brands is a highly respected partner, and when we approached them as part of our strategic review of our beer and cider strategy, John and his team were keen to explore the opportunity to take full ownership of ABCo. We have had a terrific partnership with Casella Family Brands for almost a decade now and exit on good terms. We genuinely wish them
    the very best for the future.”

    John Casella said: “ABCo is an exciting business led by a state-of-the-art brewery, and we welcomed the opportunity to acquire full ownership. We will endeavor to maintain the excellent relationships the CCEP team has established with customers in the beer and cider category in Australia. We have enjoyed partnering with CCEP to grow ABCo’s business, and we both leave the joint venture arrangement on excellent terms.”.

    Casella Family Brands took over full ownership of the Australian Beer Co on July 1.

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  • Coca-Cola teams with Berkley University to convert CO2 to sugar

    Coca-Cola teams with Berkley University to convert CO2 to sugar

    Coca-Cola Europacific Partners (CCEP) is partnering with the University of California Berkeley (UCB), US, to develop methods of converting captured carbon (CO2) into sugar. The collaboration hopes its work will slash the emissions of some of the world’s most polluting supply chains.

    Established between CCEP Ventures and UC Berkeley’s Peidong Yang Research Group, the project aims to create packaging and other essential raw materials from industrial waste.

    Last year, the Peidong Yang Group received a prize from NASA for a viable prototype for CO2 conversion to sugar for potential use on long-haul space missions.

    “Air to sugar conversion could significantly impact our ability to preserve the natural world,” says Dr. Peidong Yang.

    “This is a bold, scientific vision that would bring immediate environmental benefits, fundamentally transforming the production and distribution of goods across the world. We are pleased to be working with CCEP Ventures on research that could make a significant impact on our ability to create a more sustainable future.”

    CCEP Ventures’ initial investment with UCB will support foundational research that will focus on enabling the production of sugar from CO2 on-site and at an industrial level, with the expectation of future investments to drive scale – from lab to pilot phase.

    CCEP says the investment demonstrates the role innovation can play in its journey to reach net zero greenhouse gas emissions by 2040.

    The development of lab-scale prototypes could make the generation of essential raw and packaging materials more environmentally sustainable in the long term. It could also reduce some of the largest CO2 contributors in supply chains while saving material, transportation and logistics costs.

    “CCEP Ventures is helping us find solutions to industry challenges and provide funding to make these foundational technologies a reality,” says Craig Twyford, head of CCEP Ventures.

    “We’re excited to be involved in this project that could lead the industry in the development of transformational technology capable of converting CO₂ into more complex, usable goods.”

    If driven to an industrial scale, carbon capture could provide an answer to crop production issues by creating synthetic sugar – potentially for use in soft drinks like Coca-Cola. This, in turn, would cut related energy usage.

    Since agricultural ingredients, including sugar, amount to approximately a quarter of CCEP’s overall carbon footprint, the technology could not only reduce emissions associated with sugar manufacturing processes but also positively contribute to optimizing land usage as less arable land becomes available due to the global population growth.

    In the longer term, this technology may also make the conversion of CO2 into PET plastic more efficient by reducing the need for crude oil in the manufacturing process and significantly lowering costs.

    Earlier this month, CCEP launched a new supply chain financing program in collaboration with Rabobank. The duo is aiming to enhance their respective ESG performances by rewarding suppliers who enhance environmental sustainability across the board and include sustainability-related KPIs that, if attained, would result in discounts from the initial funding rate.

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  • Coca-Cola to launch US-first paperboard packaging for multipack cans

    Coca-Cola to launch US-first paperboard packaging for multipack cans

    Liberty, the local Coca-Cola bottler, has partnered with fiber-based consumer packaging supplier Graphic Packing International to produce multipacks in the paperboard packaging format called KeelClip, and use multipack carton application equipment in doing so. It will soon deliver this pack format to stores across the Philadelphia market.

    “Addressing plastic waste requires collective and collaborative thinking and action,” says Kurt Ritter, General Manager and Vice President of Sustainability, Coca-Cola North America. “Liberty’s ongoing commitment to sustainability is evident with the implementation of KeelClip, which is another demonstration of our system’s dedication to delivering our World Without Waste goals.”

    KeelClip equipment is a sustainable packaging system for cans that has already been successfully implemented and distributed through other local Coca-Cola bottlers in Europe. It is estimated by the company that the transition will remove 75,000 lbs of plastic packaging per year from the supply chain for approximately 3.1 million cases across Liberty’s service area, which includes Philadelphia, New Jersey, New York City, and parts of Connecticut and Delaware.

    “Liberty is thrilled to be the first bottler in the United States to implement this innovative packaging system,” Paul Mulligan, co-owner of Liberty Coca-Cola Beverages, says. “We know that the most valuable change to reduce plastic waste occurs when bottlers and packaging producers work together in partnership. We look forward to partnering with Graphic Packaging on sharing this sustainable packaging in our local communities for years to come.”

    Liberty is using the technology to improve sustainability across its entire distribution footprint. The installation of the KeelClip 1600 machinery means the sustainable fiber-based packaging is manufactured at one of Liberty’s production facilities located in New York and is being distributed across its entire footprint.

    Adds Bret Arnone, vice president, commercial operations & beverage packaging at Graphic Packaging. “This technology has seen incredible success wherever it has been used, winning 10 industry awards and becoming the gold standard for can multipacks in over 20 countries. Most importantly, it’s proven to help our commercial partners reduce their reliance on plastics for a more sustainable future.” The KeelClip packaging implementation is the latest effort Liberty is taking to advance its sustainability efforts. Last summer, Liberty became the first local Coca-Cola bottler to produce and distribute bottles made from 100% recycled material in the United States.

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