50 jobs saved
A LOCAL CORPORATE CLASH involving soft drink titans Coca-Cola and rival Pepsi Cola has ended well for 50 Banks Holdings Limited (BHL) employees.
Regional company Coca-Cola (KO) South Caribbean Bottlers (KOSCAB) Holdings Ltd has agreed to buy out the BHL subsidiary, Barbados Bottlers Company Ltd (BBC), for an undisclosed multimillion-dollar sum that will save the workers’ jobs.
The deal, which is yet to be sanctioned by the Fair Trading Commission (FTC), will also ensure that Coca-Cola, Sprite, Canada Dry, Powerade and associated products will continue to be produced in Barbados, and will result in new life for the local Frutee brand.
It ended months of uncertainty created by Brazilian beer giant AmBev’s successful takeover of BHL in December 2015, as they were in opposing camps of one of the world’s greatest business rivalries. (GE)
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