By RACHNA LAL
Coca-Cola Amatil has indicated that it’s Fijian alcoholic beverage business, Paradise Beverages (previously known as Foster’s Group Pacific), is performing ahead of plan.
The soft drink giant acquired majority shares in the alcoholic beverages company last year.
Coca-Cola Amatil in its half yearly report released this week, said Paradise Beverages has established an export business for the beer and Fiji rum portfolio.
“We are well advanced in the development of a portfolio of Australian premium and craft beers,” the company said.
Overall business performance
Coca-Cola Amatil is an Australian Stock Exchange-listed company, and its business in Fiji includes Coca-Cola Amatil (Fiji) Limited and majority shares in Paradise Beverages.
Meanwhile, the half financial year ended June 30, 2013, noted the Fijian business delivered strong volumes and earnings growth as it cycles the impact of major floods last year.
It stated the business continues to benefit from the successful launch of Minute Maid Pulpy in July 2012.
The report jointly took the Fiji and New Zealand operations into account and indicated a 10.4 per cent earning growth driven by improved performances from the countries.
Investment facilities
Coca-Cola Amatil started investing to upgrade and expand the brewery and distillery facilities of Paradise Beverages.
This was in attempts to enhance the capability of the plants to continue to improve their beers and spirits as well as create export opportunities.
Coca-Cola Amatil’s constraint period of selling, manufacturing or distributing beer in the Australian market ends on December 16 this year.
This was part of the agreement when Coca-Cola Amatil purchased the Foster’s Group Pacific Limited shares from brewery giants, SABMiller.
About Coca-Cola Amatil
- One of the largest bottlers of non-alcoholic ready-to-drink beverages in the Asia-Pacific.
- Also sells and distributes the premium spirits portfolio of Beam Global Spirits & Wines.
- Major shareholder – The Coca-Cola Company – owns 30 per cent of CCA’s shares and has two directors on CCA’s eight member Board of Directors
- Sells world-leading brands: Coca-Cola, diet Coke, Coke Zero , Fanta , Sprite, Powerade