Coca-Cola Europacific Partners begins construction of largest Philippine plant 

PHILIPPINES – Coca-Cola Europacific Partners’ (CCEP) joint venture in the Philippines has started building what it says will be its largest plant in the country.  

The facility, located in Tarlac City north of Manila, marks a significant expansion for Coca-Cola Europacific Aboitiz Philippines (CCEAP). 

CCEAP confirmed construction has commenced, noting the full build of the site will take up to ten years but production is scheduled to begin much sooner. “We expect production to begin in the next one-and-a-half years,” a company spokesperson said. 

“This development reflects our commitment to driving growth and supporting local economies in the Philippines and we envision this site to be the largest in the country.” 

CCEAP currently operates 18 manufacturing sites across the Philippines. While investment figures and capacity details have not been disclosed, the new plant underscores the group’s long-term strategy to bolster Coca-Cola’s presence in one of its fastest-growing markets. 

Coca-Cola Europacific Partners owns 60% of CCEAP, which emerged after the acquisition of Coca-Cola Beverages Philippines (CCBPI) from The Coca-Cola Company in 2023.  

Under the deal, completed in February 2024, Philippines conglomerate Aboitiz Equity Ventures (AEV) took the remaining stake, and the business was subsequently renamed CCEAP. 

“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 told the Manila Bulletin. 

In its 2024 annual report, CCEP reported revenue of €1.65bn (US$1.95bn) from the Philippines, contributing to group revenue of €20.44bn.  

The company cited “double-digit” volume growth in the market, driven by Coca-Cola Original Taste, Sprite and water products. 

Share Buyback 

Separately, Coca-Cola Europacific Partners disclosed the repurchase of 53,064 of its ordinary shares on September 17. This included 35,859 shares purchased on US trading venues at prices ranging from US$89.57 to US$90.71 per share, with a volume-weighted average of US$90.34. Another 17,205 shares were bought across London trading venues. 

The shares, purchased from Goldman Sachs & Co. LLC and affiliates, will be cancelled as part of CCEP’s ongoing €1 billion share buyback program announced on February 14, 2025. 

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