The Coca-Cola Company in Argentina and its four bottling partners – Coca-Cola Andina, Arca Continental, Coca-Cola FEMSA and Reginald Lee – will invest $1 billion in the key market over the next four years.
Muhtar Kent, chairman and CEO of The Coca-Cola Company, discussed the new investment commitment with Argentina President Mauricio Macri and José Antonio Fernández, executive chairman of FEMSA, and Carlos Salazar, CEO of FEMSA, last month at the World Economic Forum annual meeting in Davos. The investment will fund the development of Coke’s operational and distribution infrastructure, as well as local sustainability initiatives.
“Coca-Cola has been present in Argentina for 74 years,” Kent said. “We have always worked with the same passion and commitment, together with our bottling partners, to create value and make a positive difference in Argentina. This investment we announced today to President Macri, shows once more our commitment to the country’s economic and social development, which we have always kept, even during challenging times. We think this investment will foster economic growth and employment, will make our operations more sustainable, and will strengthen our relationship with consumers.”
The Coca-Cola system in Argentina employs 15,000 people and serves 260,000 customers, 85 percent of which are small and medium groceries and convenience stores. Coke operates 10 manufacturing plants in Argentina, and the system is one of the country’s largest tax contributors.