LEGAL | Staff Reporter, UK

Coca-Cola set to create venture group for acquisitions

Their CEO said that the move is part of their strategy to ‘lift’, ‘shift’ and ‘scale’ their mergers and acquisitions.

Coca-Cola has announced during a conference call for its third quarter results that they will create the Global Ventures Group that globally scale their acquisitions, partnerships and investments.

The new team will be lead by Jennifer Wann, who is the Senior Vice President and Chief People Officer of Coca-Cola.

“In this newly-created position, Jennifer and her team will focus on ensuring we get the maximum value from acquisition and investments like Costa, our partnership with Monster Beverages, et cetera,” Jame Quincey, president and CEO of Coca-Cola said.

“We're not as good at that as we would like to be or are perhaps as fast as we would like to be, better said, which is why we're bringing the Global Ventures organizational unit into being, to just give an extra twist to accelerating that piece of the strategy of lifting, shifting and scaling,” Quincey added.

Last September, the company made headlines as they announced that they will be buying Costa Coffee. The investors of Whitbread, the operator of the coffee chain, has agreed to the proposed acquisition a few weeks ago.

(Photo credit: Coca-Cola website)

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