On December 2nd, the Beijing News learned that Taikoo Coca Cola and Budweiser Beer have reached a cooperation agreement, taking the lead in launching in Anhui and Hubei. The distribution rights of Budweiser's series products, which are the main channels of the two provinces, belong to Taikoo Coca Cola. Taikoo Coca Cola told the New Beijing News that the cooperation between the two sides aims to increase the value to customers, consumers, and the community.
It is understood that an internal announcement from Coca Cola stated that after a year and a half of negotiations, the distribution contracts between Coca Cola and Budweiser in Anhui and Hubei have been signed, and the partnership will begin on December 1st. The distribution rights of Budweiser's series products, which are the main channels in the two provinces, belong to Swire Coca Cola.
Taikoo Coca Cola is one of Coca Cola's partners in the Chinese market. According to a mid-term report released by Taikoo Coca Cola's parent company Taikoo Co., Ltd., Taikoo Coca Cola recorded a recurring profit of HKD 1.627 billion in the first half of 2023, an increase of 41% compared to the first half of 2022. The total revenue increased by 14% to HKD 30.442 billion. Budweiser Beer is an internationally renowned beer company that operates over 50 brands in the Chinese market, including Harbin Beer, Corona, Fojia, and Lanmei. According to Budweiser Asia Pacific's performance in the first nine months of 2023, revenue was $5.563 billion, a year-on-year increase of 11.5%; Equity holders should account for a profit of 875 million US dollars, a year-on-year decrease of 5.41%.
For this cooperation, Taikoo Coca Cola stated that both parties will leverage their strengths, further expand the Chinese market, fully tap into market potential, bring high-quality products to consumers, and promote high-end development.