Coca-Cola European Partners, the company's branch that oversees the market in Spain, Portugal and Andorra, has suspended a project in Setúbal (Portugal) worth a reported €40 million.
According to eldiario.es, the soft drink company made the decision after the Portuguese government announced plans to introduce a tax on sugary drinks.
Andres Curbelo, director of the Portuguese portfolio at the company, said that"We still need more information, but we trust the proposed law will be modified to minimise the social and economic impact of this scenario."
The tax is included in Portugal's budget for 2017; however, a similar measure was proposed by the previous government in 2014 and wasn't successful.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Gabriela Guédez. To subscribe to ESM: The European Supermarket Magazine, click here.
