Coca-Cola Enterprises Inc., an independent bottler of Coke products in Europe, agreed to a merger with two other bottlers in that region to form the largest independent bottler for the famed soda brand.
Cahill Gordon & Reindel LLP represented Coca-Cola Enterprises, while Allen & Overy LLP represented Coca-Cola Iberian Partners and Cleary Gottlieb Steen & Hamilton LLP represented Coca-Cola Co., the sole owner of Germany’s Coca-Cola Erfrischungsgetraenke AG. In addition, Skadden, Arps, Slate, Meagher & Flom LLP provided tax advice to Coca-Cola.
The Cahill team was led by corporate partners Helene Banks and John Schuster and also included antitrust partner Elai Katz and tax partner Craig Horowitz.
The Allen & Overy team was led by M&A partners Ed Barnett and Eric Shube and also included tax partner Dave Lewis and German partners Matthias Horn and Hans-Peter Loew. Other partners on the deal were Sarah Henchoz, employment; James Roe and Justin Steer, equity capital markets; Chris Harrison, tax; and Alasdair Balfour, antitrust.
From Cleary Gottlieb advising Coca-Cola were partners Matt Salerno, Vic Lewkow, Simon Jay, Sam Bagot and Raj Panasar, and counsel Grant Binder. In addition, partner Nick Levy advised on antitrust and counsel Kathleen Emberger advised on employee benefits matters.
The Skadden tax team advising Coca-Cola included partner David Rievman.
The combination will create a company spanning 13 countries with 2015 revenue of about $12.6 billion, Coca-Cola Enterprises said Thursday in a statement.
The transaction advances Coca-Cola Co.’s goal of consolidating bottling operations around the world and trimming expenses, as the deal is expected to lead to annual cost savings of as much as $375 million after three years. Though the beverage giant is a separate business, it works closely with the bottlers and will own a stake in the new company.