Coca-Cola Amatil is folding its Aussie-based alcohol and coffee portfolios into the larger Australian beverages segment as it continues a wider restructure.
The beverages bottler said the move will further simplify its manufacturing and sales model following June’s sale of food processing business SPC, with its New Zealand and Fiji business segment also set to absorb NZ-based coffee and alcohol, Fiji’s Paradise Beverages, and the international alcohol sales team.
The coffee portfolio in Indonesia will now be part of the Indonesian business.
Coca-Cola Amatil’s alcohol and coffee managing director Shane Richardson will leave the company following the shuffle.
Group managing director Alison Watkins last month named the alcohol and coffee segments a bright spot in the company’s first-half result, with coffee and alcohol revenue and growth targets remaining on track for the full 2019 financial year.
First-half profit from continuing operations slipped by 3.9 per cent to $173.3 million, which the company said it expected, as various container deposit schemes and increased marketing investments weighed on the major Australian segment.
Shares in the company were worth $10.87 before the open of markets on Monday, up 17 per cent from $9.30 a year ago.