It is noted that in addition to the name change, according to Russian media, the headquarters of the company will now be located in Moscow and not in Nizhny Novgorod.
Her company Coca-Cola in Russia changed name and with it all the known soft drinks. It was renamed to Multon Partners, while this change which essentially means the definitive end of Coca-Cola products in RussiaCoca-Cola HBC chief Zoran Bogdanovic announced in a letter to employees on August 5.
It is recalled that last March the Coca – Cola Company decided to suspend its activities in Russia, following the latter’s invasion of Ukraine, which meant that its bottler in that country would also have to stop the production and distribution of signals. There are absolutely no plans to reintroduce The Coca-Cola Company’s brands and products in any form, Mr. Bogdanovic pointed out in his letter.
In the coming months Multon Partners will assess the best way to establish the brand, which may mean some extensions to existing local brands. However, no plans have been finalized, the CEO of Coca-Cola HBC points out.
It is noted that in addition to the name change, according to Russian media, the headquarters of the company will now be located in Moscow and not in Nizhny Novgorod. What remains to be seen, of course, in the next period – and it is possible that there will be additional announcements in a few hours when Coca – Cola HBC’s first half results are published and when they are discussed with analysts – is whether factories of group in Russia.
Sales of soda in Russia decreased by 5.5% in 2 months
Due to the withdrawal of foreign brands such as Coca-Cola, Pepsi and Sprite, Russia is forced to make domestic analogues, but Russians do not want to buy Cool Cola, Fancy and Street – substitutes for American brands.
📰Forbes pic.twitter.com/EGa3jwB5ma
— NEXTA (@nexta_tv) July 25, 2022
According to Moscow TimesCoca – Cola became Cool Cola, Fanta became Fancy and Sprite became Street.
Coca – Cola HBC has been active in Russia since 1994 and initially participated in a joint venture scheme with the Coca Cola Company, Coca – Cola Molino Beverages Ltd. In 2001 Coca – Cola HBC acquired from Coca – Cola Company all activities in Russia, i.e. factories and bottling rights, while in 2005 it also acquired the juice company Multon. Today the Coca-Cola HBC group has 10 factories with 60 production lines in Russia. The group employs around 7,000 people in Russia, and has a fleet of 3,554 trucks.
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