The Coca-Cola Company witnessed net revenues accelerate by 42% in Q2 this year, driven by ongoing recovery from the pandemic in several markets. It posted net revenues of $10.1 billion, with 26% growth in concentrate sales. Last year, the company announced a major global restructuring effort, aimed at streamlining its operations into nine operating units and five ‘global category leads’: Coca-Cola brand; Sparkling Flavors; Hydration; Sports, Coffee and Tea; Nutrition, Juice, Milk and Plant; and Emerging Categories. At the end of 2020, the company announced it would cut 2,200 jobs worldwide—1,200 in the US—as it accelerated its ongoing business restructuring amid Covid-19 challenges.
Refresco recently entered into an agreement to acquire three of the beverage giant’s production facilities in the US. In February, the company announced its intentions to acquire a controlling interest in sports drinks brand Bodyarmor, after notifying US antitrust regulators. Coca-Cola European Partners increased its takeover offer for Coca-Cola Amatil to AUD 9.93 billion ($7.7 billion). Meanwhile, Coca-Cola Israel (The Central Bottling Company—CBC) invested $2 million in the development of BioMilk’s cultured milk products.
Coca-Cola announced plans to discontinue Coca-Cola Energy in North America, less than two years after it launched in the market. It also released Coca-Cola with Coffee and a zero-sugar version of the drink in the US; and expanded its Topo Chico sparkling water portfolio with a new tangerine variety.
|Ranking (last five years):|
|Year end:||December 2020|
|Total sales, local currency:||34,300
|Food sales, local currency:||34,300
|Total sales, $m:||34,300
|Food sales, $m:||34,300
|James Quincey, Chairman and CEO|
|Brian Smith, President and COO|
|John Murphy, Executive VP and CFO|
|Henrique Braun, President, Latin America|
|Matrona Filippou, President, Hydration, Sports, Coffee and Tea |