Bottler Coca-Cola HBC mulls other options for Russian business
Reuters
Published May 12, 2022 02:18AM ET
Updated May 12, 2022 02:41AM ET
(Reuters) - Soft drinks bottler Coca-Cola (NYSE:KO) HBC AG said on Thursday it will evaluate all options for its Russian operations and have a smaller presence in the country, focussing on local brands.
The bottler, which counts Russia as one of its biggest markets, is also working closely with Coca-Cola to implement the U.S. beverage company's decision to suspend its business in the region and stop orders for concentrates.
HBC is one of Coca-Cola's many bottlers worldwide and holds local Coca-Cola franchises to bottle and sell drinks produced by the beverage giant. Coca-Cola holds a roughly 21% stake in HBC.
The London-listed company said organic revenue in the first-quarter rose 25.9%, excluding Russia and Ukraine.
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Written By: Reuters
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