In 1927,
San Miguel Corporation (then known as the original San Miguel Brewery, Inc.) became the first bottler of
Coca-Cola in Asia. In 1981, San Miguel spun off its soft drink businesses to a new company named Coca-Cola Bottlers Philippines, Inc. (CCBPI). The company was established as a joint-venture between
San Miguel Corporation (70%) and
The Coca-Cola Company (30%).
Coca-Cola Amatil (1997) In April 1997, CCBPI was merged into the Australia-based
Coca-Cola Amatil Limited (CCA). In effect, San Miguel exchanged its 70% interest in a Philippine-only operation (CCBPI) for a 25% stake in CCA, which had operations in 17 countries—both in the Asia-Pacific region and in Eastern Europe. Shortly after, CCA demerged the Eastern European operations into a UK-based firm called
Coca-Cola Beverages plc (resulting in a reduction of San Miguel's stake in CCA to 22%). Seeking to maintain its focus on the Asia-Pacific region, San Miguel sold its stake in the new UK entity in mid-1998.
Reacquisition by San Miguel and The Coca-Cola Company (2001) In July 2001, San Miguel joined forces with
The Coca-Cola Company (TCCC) to reacquire CCBPI, with San Miguel taking a 65% stake and TCCC the remaining 35%. As part of the deal, San Miguel sold its CCA shares back to CCA. Later in 2001, San Miguel sold its
bottled water (Viva! and Wilkins) and juice businesses (Eight O'Clock), amalgamated under Philippine Beverage Partners, Inc., to CCBPI. In February 2002, San Miguel completed the acquisition of an 83% stake in rival Cosmos Bottling Corporation in a P15 billion ($282 million) deal, completed through CCBPI. Cosmos specialized in low-priced soft drinks and held the number two position in the Philippine market. The combination of Coca-Cola Bottlers Philippines and Cosmos Bottling Corporation gave the San Miguel group control of more than 90% of the Philippine soft-drink market.
The Coca-Cola Company (2007) In February 2007, The Coca-Cola Company (TCCC) purchased San Miguel's 65% shareholding in CCBPI and subsidiaries for $590 million acquiring the full ownership. In September 2010, TCCC announced its plan to invest US$1 billion in its business in the Philippines over the next five years. Part of this investment is the completion of its newest and technologically advanced Mega Plant in Misamis Oriental in January 2012.
Coca-Cola FEMSA (2013–2018) On December 14, 2012, TCCC signed a definitive agreement to sell its 51% stake in CCBPI to
Mexico-based Coca-Cola
FEMSA, S.A. de C.V., the world's second largest bottler of
Coca-Cola, with operations across Central and South America. The all-cash transaction became effective January 25, 2013. The deal price represented a $1,350 million valuation of CCBPI. Coca-Cola FEMSA will have an option to acquire the remaining 49% of CCBPI at any time during the next 7 years and will have a put option to sell its ownership back to TCCC any time during year six. On August 17, 2018, The Coca-Cola Company announced that its Bottling Investments Group (BIG) agreed to acquire the 51% stake in the company held by Coca-Cola
FEMSA, S.A. de C.V.
Coca-Cola BIG (2018–2024) In December 2018, BIG completed its acquisition of Coca-Cola FEMSA Philippines' bottling operations. The company was then renamed Coca-Cola Beverages Philippines, Inc. as a reflection of its ambition to build a total beverages company.
Coca-Cola Europacific Partners and the Aboitiz Group (2024-present) On February 23, 2024, Philippine-based
Aboitiz Equity Ventures Inc. (AEV) announced that it has jointly acquired Coca-Cola Beverages Philippines Inc. together with
Coca-Cola Europacific Partners (CCEP) for $1.8 billion on a debt-free, cash-free basis. It will hold a 40% stake, while CCEP will take up the remaining 60% stake. The company was renamed to Coca-Cola Europacific Aboitiz Philippines, Inc. effective January 15, 2025 to signify the new ownership. ==Brands==