Coca-Cola Europacific Partners (CCEP) has announced plans to invest at least €700 million in 2023 in capital expenditure to deliver a better service to customers and achieve progress toward its sustainability commitments.
The world’s largest Coca-Cola bottler has said it will continue to invest in technology and digital tools to increase supply chain capacity, along with its online customer portal.
Additionally, CCEP will invest in building digital, data and analytics capabilities, including identification and use of key customer and shopper insights.
The organisation plans to optimise its operations and asset use to meet its revenue growth projections while fulfilling sustainability commitments and meeting consumer demands.
The Way We Sell Programme
CCEP has launched a new programme - The Way We Sell - for its colleagues to help develop commercial skills and capabilities.
The company's efforts to expand its supply chain will see investments in setting up four new can lines in Australia, Great Britain and Norway, as well as new production lines for the Monster brand.
The project will also see multi-year investments in returnable glass bottles in France, and new or improved automated storage and retrieval systems in the Netherlands and Great Britain.
'Encouraging Start'
In April, CCEP reported a 12.0% increase in group revenue in its first quarter, which chief executive Damian Gammell described as an "encouraging start to the year".
In its Europe business, revenue was up 12.0% to €3.145 billion, while its Asia-Pacific business was up 11.5% to €1 billion.
Looking at the performance of its European business by geography, the bottler reported 4.5% revenue growth in the UK, 15.5% growth in France, 17.5% growth in Germany, 20.5% growth in Iberia and 4.5% growth in Northern Europe.
© 2023 European Supermarket Magazine – your source for the latest A-brand news. Article by Robert McHugh. Click subscribe to sign up to ESM: European Supermarket Magazine.
