Coca-Cola Announces Billion-Euro Investment In France
Coca-Cola, alongside Coca-Cola European Partners (CCEP), is to invest up to a billon euros over the next five years in its French operations, as part of what the group describes as its 'long-term commitment to France'.
The investment plan is being discussed between Coca-Cola president James Quincey and French president Emmanuel Macron at the Choose France summit in Paris, Coca-Cola said in a statement.
The investment will include the introduction of new products to the French market, the expansion of bottling and manufacturing capacity at CCEP's French facilities, increased innovation and brand support.
In addition, both Coca-Cola and Coca-Cola European Partners will support the hosting of the 2024 Paris Olympic Games, following the extension of the groups' partnership with the International Olympic Committee.
With specific regard to CCEP, which has invested €350 million in France since 2013, a modernisation of the group's plant at Socx (Dunkerque) will take place in mid-2020, to cater for increased demand for Fuze Tea.
Additional investments will be undertaken at all five CCEP plants in France, enabling the introduction of a higher quantity of recycled material in bottles and cans, and the replacement of plastic in secondary packaging.
In addition, Coca-Cola said that it plans to 'strengthen its existing positions and accelerate its entry into new categories' with its investment.
“Coca-Cola has been part of France for a century, and our presence today includes more than 2,800 people who work for Coca-Cola in France, plus many more across our entire value chain,” Quincey said. “Today’s announcement shows continued commitment to France, helping to build the French economy and contributing to sustainable French communities for years to come.”
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.