Swire buys Coke’s Vietnam, Cambodia bottling operations for over $1 bln

By Bao Long
Mon, July 18, 2022 | 9:27 pm GMT+7

Swire Pacific Ltd. is acquiring Coca-Cola Company’s bottling operations in Vietnam and Cambodia for $1.02 billion, marking the Hong Kong major’s first foray into the Southeast Asian beverage market.

A Coca-Cola Vietnam representative confirmed the Vietnam deal on Monday night but asked not to be named.

A Coca-Cola bottling plant in Thu Duc city, Ho Chi Minh City. Photo courtesy of Tuoi Tre newspaper.

A Coca-Cola bottling plant in Thu Duc city, Ho Chi Minh City. Photo courtesy of Tuoi Tre newspaper.

Prior to the Hong Kong-based conglomerate’s transactions, Coca-Cola’s bottling operations in Vietnam and Cambodia belonged to the Bottling Investment Group (BIG), a 100% owned subsidiary of the American beverages giant.

Swire said Monday that the buyer was its wholly-owned subsidiary Swire Coca-Cola, and the transactions will give the firm a leading position in one of the world's fastest growing beverage markets.

After finishing the deals, Swire Coca-Cola will own and operate Coca-Cola Beverages Vietnam Ltd., which has three bottling facilities in the country, and Cambodia Beverage Company Ltd., which has one bottling factory in Cambodia.

"This acquisition marks a major milestone for Swire Coca-Cola, significantly expanding our operating footprint and population served to a new region," said Patrick Healy, chairman of Swire Coca-Cola.

"We have been investing in building a world-class bottling system over the past 57 years. This expansion of territories is part of a broader strategy to expand the global scale, volume and revenues of our bottling business,” he added in a release from Hong Kong.

Swire Pacific noted in the release: “Vietnam and Cambodia open up significant opportunities for Swire Coca-Cola.”

Karen So, managing director of Swire Coca-Cola, said: "As a long-term strategic partner with Coca-Cola, we are delighted to be expanding our relationship through this acquisition and excited by the enormous growth potential of the non-alcoholic beverage markets in Vietnam and Cambodia, which are valued at over $6 billion and forecast to grow at over 6% in Compounded Annual Growth rate or CAGR until 2036."

"With our successful refranchising experience in the USA and Chinese Mainland between 2014 and 2017, I am confident that our continuous commitment to excellence will help capture the opportunities that these dynamic markets will bring. We look forward to the next exciting chapter in our history as we make our first foray into Southeast Asia."

Swire Coca-Cola already bottles Coca-Cola beverage products for markets in Hong Kong and Taiwan, as well as parts of mainland China and the U.S.

Comments (0)
  • Read More
Brazil’s leading food group JBS eyes turning Vietnam into global production hub

Brazil’s leading food group JBS eyes turning Vietnam into global production hub

JBS, the world’s leading food processing company, is looking to transform Vietnam into a global and regional distribution and production center.

Industries - Wed, July 9, 2025 | 9:51 am GMT+7

Brazilian-backed payment solutions firm Alterosa MK plans expansion in Vietnam

Brazilian-backed payment solutions firm Alterosa MK plans expansion in Vietnam

Alterosa MK, a joint venture between Brazil’s Alterosa Group and MK Group of Vietnam, said it expects to receive more support from the two governments for investment expansion.

Finance - Wed, July 9, 2025 | 9:00 am GMT+7

USD price may reach VND26,400 in Q3, VND26,200 in Q4: UOB

USD price may reach VND26,400 in Q3, VND26,200 in Q4: UOB

Singaporean bank UOB's updated USD/VND projections are 26,400 in Q3/2025, 26,200 in Q4/2025, 26,000 in Q1/2026, and 25,800 in Q2/2026.

Economy - Wed, July 9, 2025 | 8:41 am GMT+7

Vietnam's stock market moving toward sustainability, professionalism: exec

Vietnam's stock market moving toward sustainability, professionalism: exec

The quality of investors in Vietnam has significantly improved as more and more investors start to adopt asset management strategies and disciplined investing, instead of merely engaging in short-term trading, said Nguyen Hoang Yen, chairwoman of Mirae Asset Securities.

Finance - Tue, July 8, 2025 | 11:40 pm GMT+7

Vietnam's credit growth hits record high since 2023

Vietnam's credit growth hits record high since 2023

Vietnam’s total credit outstanding surpassed VND17.2 quadrillion (about $658.31 billion) in the first half of 2025, marking a 9.9% increase from the end of 2024 and a 19.3% rise year-on-year, the highest growth rate since 2023.

Banking - Tue, July 8, 2025 | 11:26 pm GMT+7

Foreign investors net buy for fifth consecutive session

Foreign investors net buy for fifth consecutive session

Foreign investors' transactions on the Ho Chi Minh Stock Exchange (HoSE) continued to be a highlight as they net bought for the fifth consecutive session on Tuesday, to the tune of over VND7,679 billion ($293.88 million).

Finance - Tue, July 8, 2025 | 6:08 pm GMT+7

Northern Vietnam province opens bid for $2 bln tourism-casino complex project

Northern Vietnam province opens bid for $2 bln tourism-casino complex project

Quang Ninh, a coastal province in northern Vietnam, is seeking investors for a large-scale tourism and casino complex valued at VND51.5 trillion ($2 billion) in its strategic Van Don Economic Zone.

Real Estate - Tue, July 8, 2025 | 4:37 pm GMT+7

The Investor to hold seminar on raising investor awareness towards stock market status upgrade

The Investor to hold seminar on raising investor awareness towards stock market status upgrade

The Investor and its Vietnamese-language sister Nhadautu.vn will host a seminar titled “Raising investor awareness towards stock market status upgrade” in Hanoi on July 17.

Finance - Tue, July 8, 2025 | 4:02 pm GMT+7

Many uncertainties over exchange rates: Vietnam's central bank

Many uncertainties over exchange rates: Vietnam's central bank

There are many "unknowns" with monetary policy and exchange rates in the coming time, said Pham Chi Quang, director of the State Bank of Vietnam's (SBV) monetary policy department.

Banking - Tue, July 8, 2025 | 3:53 pm GMT+7

World's largest iron ore, nickel producer wants to expand business in Vietnam

World's largest iron ore, nickel producer wants to expand business in Vietnam

Prime Minister Pham Minh Chinh has asked Vale Group, a multinational Brazilian corporation in the fields of metals, mining, and logistics, expand business in Vietnam.

Industries - Tue, July 8, 2025 | 1:52 pm GMT+7

Vietjet appoints new managing director

Vietjet appoints new managing director

Vietjet Aviation Joint Stock Company (HOSE: VJC) has appointed Nguyen Thanh Son as its new managing director, succeeding Dinh Viet Phuong.

Companies - Tue, July 8, 2025 | 8:10 am GMT+7

First turbine rotor installed at expanded Hoa Binh hydropower plant in northern Vietnam

First turbine rotor installed at expanded Hoa Binh hydropower plant in northern Vietnam

The rotor of the first turbine at the expanded Hoa Binh Hydropower Plant project was successfully installed on Sunday in Phu Tho province, formerly Hoa Binh province, northern Vietnam.

Companies - Tue, July 8, 2025 | 8:07 am GMT+7

Singapore heavily penalizes nine financial institutions for money laundering

Singapore heavily penalizes nine financial institutions for money laundering

The Monetary Authority of Singapore (MAS) has fined nine financial institutions SGD27.45 million ($21.55 million) for breaches related to the 2023 money laundering case involving more than SGD3 billion in assets.

Southeast Asia - Tue, July 8, 2025 | 7:58 am GMT+7

Foreign cash flows push VN-Index past 3-year peak

Foreign cash flows push VN-Index past 3-year peak

With positive sentiment from both domestic and foreign investors, VN-Index on Monday surpassed the 1,400 mark after more than three years. The last time the benchmark index reached this level was on April 19, 2022.

Finance - Tue, July 8, 2025 | 7:28 am GMT+7

Japan's Granja Fujikura eyes developing large-scale, high-tech agriculture in Vietnam

Japan's Granja Fujikura eyes developing large-scale, high-tech agriculture in Vietnam

Granja Fujikura Group wishes to receive favorable conditions in Vietnam to develop large-scale, high-tech agriculture.

Economy - Mon, July 7, 2025 | 11:22 pm GMT+7

Vietnam's Maritime Bank plans 20% stock dividend payout

Vietnam's Maritime Bank plans 20% stock dividend payout

Vietnam Maritime Commercial Joint Stock Bank (MSB) plans to issue up to 520 million shares as stock dividends, equivalent to 20% of its outstanding shares at the record date.

Banking - Mon, July 7, 2025 | 5:30 pm GMT+7