Schweppes Zimbabwe Ltd Thrives After Management Buyout
Charles Msipa, Managing Director of Schweppes Zimbabwe, talks about the company's recent management buyout from the Coca-Cola Company, and how it has thrived since standing on its own two feet.
Online, August 17, 2010 (Newswire.com) - (Norwich, UK, August 1, 2010). In an exclusive interview with Food & Drink Digital, Charles Msipa, Managing Director of Schweppes Zimbabwe, talks us through the company's recent management buyout from the Coca-Cola Company, and how it has thrived since standing on its own two feet.
"Effective June 2010, the Schweppes Zimbabwe Limited business was localised with the shareholding now being held by management and employees, who took 51 percent of the business, and Delta Beverages, who took 49 percent," Msipa tells us. "The Coca-Cola Company continues to own the brands and trademarks. Schweppes Zimbabwe manufactures and distributes the brands under a franchise agreement with The Coca-Cola Company."
That Schweppes would eventually be divested by Coca-Cola was inevitable, as it was never a part of the plan for Schweppes to be part of The Coca-Cola Company.
"It was not by design that Coca-Cola came to own Schweppes Zimbabwe. They were acquiring Schweppes Cadbury's brands internationally, but the portfolio they acquired from them included Schweppes Zimbabwe and its manufacturing facilities," Msipi says. "This was really The Coca-Cola brand going back to its core business."
"Coca-Cola felt strongly that it wanted the ownership of the local manufacturing business to be in the hands of people who had demonstrated a commitment to the business over the last 10 years or so."
Read the full report here: http://www.foodanddrinkdigital.com/company-reports/schweppes-zimbabwe-limited
About Schweppes Zimbabwe Limited
Schweppes Zimbabwe Limited is leading manufacturer and distributor of soft drinks, cordials and bottled water in Zimbabwe. The company previously traded as Coca Cola up until this June, when there was a management buyout of business.
