The €23.1 billion merger of three Coca-Cola bottlers to create a single company covering Western Europe
The newly created business, named Coca-Cola European Partners (“CCEP”), based in the UK, has become the largest independent Coca-Cola bottler in the world by revenues and EBITDA.
CCEP is trading on Euronext Amsterdam, NYSE, Euronext London, and the Spanish Stock Exchanges.
The merger was the result of a complex three-way transaction which will yield significant synergies for the combined business. The broader footprint of CCEP will allow it to compete more effectively across the non-alcoholic beverage market on a Pan-European basis, serving over 300 million consumers in 13 countries.
The three parties to the transaction were Coca-Cola Iberian Partners, the independent bottler serving Spain and Portugal, Coca-Cola Enterprises, listed in the US and serving the UK, France, Benelux, Norway and Sweden, and Coca-Cola Erfrischungsgetränke, the wholly-owned subsidiary of the Coca-Cola Company serving Germany.
Rothschild Global Advisory assisted Coca-Cola Iberian Partners on every aspect of this large and complex transaction and played an instrumental role in the merger negotiations and execution. The transaction builds upon Rothschild's unrivalled global experience advising on landmark transactions involving the Coca-Cola bottling system and global consumer companies more generally.
At €23.1bn the merger represents one of the largest ever consumer M&A deals in Europe. It is the largest ever three-way consumer merger transaction.
CCEP became the third largest listed consumer company on the Amsterdam Stock Exchange after Unilever and Heineken. It is the eighth largest consumer company and fourth largest food and drink company headquartered in the UK.
The transaction exemplifies Rothschild Global Advisory's ability to deliver seamless global support to a client on a complex multi-jurisdictional transaction, involving bankers from multiple offices working together seamlessly and offering comprehensive advice on all M&A, ECM, DCM, PR and IR aspects of the transaction. -