Coca-Cola Europacific Partners JV eyes largest factory in Philippines

Coca-Cola Europacific Partners’ joint venture in the Philippines has started a project to build its biggest plant in the country.

The construction of the site in Tarlac City, north of Manila, has started, the venture confirmed.

A spokesperson for the Coca-Cola Europacific Aboitiz Philippines (CCEAP) venture said the full build will take ten years but the business expects production to start far sooner.

“We expect production to begin in the next one-and-a-half years,” the spokesperson said. “We currently have 18 manufacturing sites in the Philippines. While we’re not disclosing specific investment figures or capacity details at this time, what we can share is that this development reflects our commitment to driving growth and supporting local economies in the Philippines and that we envision this site to be the largest in the country.”

Coca-Cola Europacific Partners owns 60% of CCEAP, a venture unveiled after the UK-headquartered bottler snapped up Coca-Cola Beverages Philippines (CCBPI) from The Coca-Cola Company in 2023.

Under the terms of the deal, which was completed in February 2024, Coca-Cola Europacific Partners acquired the majority share of CCBPI, with Philippines conglomerate Aboitiz Equity Ventures (AEV) holding the rest. CCBPI was subsequently renamed CCEAP.

The factory in Tarlac City will supply undisclosed products to customers in the Philippines.

“This new development cements our solid partnership with CCEP. It’s a strategic move: we need to protect and grow Coke’s market share while driving development in local economies,” AEV president and CEO Sabin Aboitiz was quoted as saying by Philippines national newspaper The Manila Bulletin.

In CCEP’s 2024 annual report, the company said it had generated revenue of €1.65bn ($1.95bn) in the Philippines. Group revenue was €20.44bn. It reported “double-digit” volume growth in the Philippines, driven by the flagship “original taste” Coca-Cola CSD, Sprite and its water products.