Philippine-based firm Macay Holdings acquiring global rights to RC Cola | ABS-CBN
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Philippine-based firm Macay Holdings acquiring global rights to RC Cola
Philippine-based firm Macay Holdings acquiring global rights to RC Cola
ABS-CBN News
Published Sep 08, 2022 11:28 AM PHT
MANILA - RC Cola is set to be a Pinoy brand.
MANILA - RC Cola is set to be a Pinoy brand.
Philippine-based firm Macay Holdings Inc is acquiring full ownership of RC Global Beverages Inc, the global operator of the RC Cola brand, the company disclosed on Thursday.
Philippine-based firm Macay Holdings Inc is acquiring full ownership of RC Global Beverages Inc, the global operator of the RC Cola brand, the company disclosed on Thursday.
Macay said its Board approved a proposed acquisition by the company of 100 percent of the shareholdings in RC Global Beverages, Inc. (RCGBI).
Macay said its Board approved a proposed acquisition by the company of 100 percent of the shareholdings in RC Global Beverages, Inc. (RCGBI).
“RCGBI owns the rights to the RC Cola brand globally, and has the ability to grant bottling and distribution licenses to bottlers in the continents of Asia, Europe, Africa, the Middle East, and in North and South America, except for the US,” Macay said in its disclosure.
“RCGBI owns the rights to the RC Cola brand globally, and has the ability to grant bottling and distribution licenses to bottlers in the continents of Asia, Europe, Africa, the Middle East, and in North and South America, except for the US,” Macay said in its disclosure.
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RCGBI has existing relationships with 32 bottlers in 49 countries including the Philippines, Macay said.
RCGBI has existing relationships with 32 bottlers in 49 countries including the Philippines, Macay said.
Macay said it is paying cash for $21 million in equity value and assuming net debt of $25 million. A purchase price adjustment will also be made depending on RCGBI's net earnings performance for the year 2022, it added.
Macay said it is paying cash for $21 million in equity value and assuming net debt of $25 million. A purchase price adjustment will also be made depending on RCGBI's net earnings performance for the year 2022, it added.
“The RC Cola brand is an iconic 117-year-old brand and will allow Macay to establish cross border relationships with different F&B companies in other countries, potentially leading to substantial opportunities in our current product offerings and offshore partnerships," said Macay President Antonio Panajon.
“The RC Cola brand is an iconic 117-year-old brand and will allow Macay to establish cross border relationships with different F&B companies in other countries, potentially leading to substantial opportunities in our current product offerings and offshore partnerships," said Macay President Antonio Panajon.
Macay said the deal is subject to the finalization of a share purchase agreement and other closing conditions.
Macay said the deal is subject to the finalization of a share purchase agreement and other closing conditions.
Macay Holdings is the parent company of ARC Refreshments Corporation, which makes RC Cola and other soft drinks. It also owns Artemisplus Express Inc, a canteen concessionaire servicing clients mainly from BPO, corporate, manufacturing, and hospital segments.
Macay Holdings is the parent company of ARC Refreshments Corporation, which makes RC Cola and other soft drinks. It also owns Artemisplus Express Inc, a canteen concessionaire servicing clients mainly from BPO, corporate, manufacturing, and hospital segments.
In 2015, Philippine-based firm Emperador Inc also acquired global brandy maker Fundador of Spain.
In 2015, Philippine-based firm Emperador Inc also acquired global brandy maker Fundador of Spain.
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