No, San Miguel does not own Coca-Cola. On the contrary, The Coca-Cola Company now holds full ownership of what was previously a joint bottling operation in the Philippines.
The Evolution of Ownership in the Philippines
Historically, San Miguel Corporation, a prominent Philippine conglomerate, played a significant role in the bottling and distribution of Coca-Cola products in the Philippines. This arrangement represented a key partnership in the beverage industry within the region for many years.
However, a major shift occurred in February 2007. In this period, The Coca-Cola Company (TCCC) took a decisive step to consolidate its operations. TCCC purchased San Miguel's substantial 65% shareholding in Coca-Cola Beverages Philippines Inc. (CCBPI) and its subsidiaries. This strategic acquisition, valued at $590 million, resulted in The Coca-Cola Company gaining complete ownership of CCBPI.
Following this acquisition, The Coca-Cola Company continued to demonstrate its commitment to the Philippine market. For example, in September 2010, TCCC announced a significant investment plan, pledging to invest US$1 billion in its business in the Philippines over the subsequent five years. This further cemented TCCC's direct control and long-term strategy for its operations in the country.
Summary of Ownership Status
To clarify the current ownership structure regarding Coca-Cola operations formerly associated with San Miguel:
- Before February 2007: San Miguel Corporation held a significant stake (65%) in Coca-Cola Beverages Philippines Inc.
- After February 2007: The Coca-Cola Company acquired San Miguel's shares, obtaining 100% ownership of Coca-Cola Beverages Philippines Inc.
This means that while San Miguel was once a key partner in the bottling and distribution of Coca-Cola products in the Philippines, it no longer holds an ownership stake in those operations; they are now fully owned by The Coca-Cola Company.
| Entity | Relationship to Coca-Cola Beverages Philippines (Post-2007) |
|---|---|
| San Miguel | No ownership stake |
| The Coca-Cola Company | Full owner |
For more general information about the company, you can visit the Wikipedia page for The Coca-Cola Company.
