Swire Coca-Cola, a wholly owned subsidiary of Swire Pacific, posted a strong performance in Vietnam in 2023 following the acquisition of the Vietnamese franchise.
In 2023, Swire Coca-Cola recorded sales of 155 million unit cases in Vietnam, making Vietnam the company’s third-largest market globally.
This figure sits behind mainland China with almost 1.43 billion unit cases and the United States with 233 million unit cases. A unit case comprises 24 8-ounce servings.
Regarding per capita consumption, Vietnam has the lowest figure among all six markets under the management of Swire Coca-Cola at 37 unit cases. The US takes the lead with 260 unit cases.
Swire Coca-Cola anticipates the franchise business in Vietnam to deliver steady profits in 2024.
The acquisition of the franchise business in Vietnam was completed in January 2023. Swire Coca-Cola now owns and operates Coca-Cola Beverages Vietnam, which has three bottling facilities in Vietnam.
Swire Coca-Cola continues to expand its footprint in Southeast Asia. In February, it conditionally agreed to acquire a majority stake in ThaiNamthip Corporation bottling businesses in Thailand and Laos for an aggregate consideration of approximately $1.18 billion.
Also in February, CC Cambodia Holdings Pte. Ltd. and Coca-Cola Indochina Pte. Ltd., each a wholly owned subsidiary of the Group, entered into a Cambodia share purchase agreement and Vietnamese capital transfer agreement with TNTC, which conditionally agreed to acquire 30 per cent of each of the issued share capital of Cambodia Beverage Co., Ltd. and the charter capital of Coca-Cola Beverages Vietnam for an aggregate consideration of approximately $271.1 million, subject to customary post-completion adjustments.
