Latest news with #Atlanta-headquartered
&w=3840&q=100)
Business Standard
28-05-2025
- Business
- Business Standard
Limca becomes Rs 2,800-crore brand in 2024, says Coca-Cola India
Limca, a lime and lemon-flavoured drink, has crossed the Rs 2,800-crore revenue mark in 2024, helped by its expansion in rural and urban areas. The five-decades-old brand is witnessing strong double-digit growth in key states such as Delhi, Punjab and Haryana, gaining share across both traditional trade and emerging retail formats, according to a statement released by Coca-Cola India. Since its inception in 1971, Limca has been a driving force in strengthening the company's sparkling portfolio, with demand soaring across both urban and rural markets, it added. Currently, Coca-Cola has three billion-dollar brands -- Thums Up, Sprite and Maaza in its India portfolio. Thums Up is now very close to becoming a $2 billion brand. Maaza, Thums Up and Limca were acquired by The Coca-Cola Company in 1993, when the Atlanta-headquartered company had re-entered the Indian market, from Ramesh Chauhan of Parle Bisleri. Coca-Cola had then bought the entire portfolio of aerated drinks from the Chauhan brothers, which also included Gold Spot. Vinay Nair, Vice President, Franchise Operations, Developing Markets, Coca-Cola India and Southwest Asia, said Limca's story is one of resilience, reinvention, and a pursuit of excellence. Our success is anchored in a simple but powerful playbook - innovating products that cater to evolving consumer needs, expanding distribution to both urban and rural India, and executing marketing campaigns that connect passion and purpose," he said. In 2024 Coca-Cola extended Limca in the hydration space. It had introduced Limca GlucoCharge, a beverage with glucose and electrolytes and its launch campaign had featured Olympic gold medalist Neeraj Chopra. In India its beverage range includes Coca-Cola, Diet Coke, Thums Up, Fanta, Limca, Sprite, Maaza, Minute Maid range of juices and Honest Tea.
Time of India
28-05-2025
- Business
- Time of India
Limca becomes Rs 2,800-crore brand in 2024, says Coca-Cola India
Limca, a lime and lemon-flavoured drink, has crossed the Rs 2,800-crore revenue mark in 2024, helped by its expansion in rural and urban areas. The five-decades-old brand is witnessing strong double-digit growth in key states such as Delhi, Punjab and Haryana, gaining share across both traditional trade and emerging retail formats, according to a statement released by Coca-Cola India. Since its inception in 1971, Limca has been a driving force in strengthening the company's sparkling portfolio, with demand soaring across both urban and rural markets, it added. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If you eat ginger every day for a month, your body will experience the following phenomena Tips and Tricks Undo Currently, Coca-Cola has three billion-dollar brands -- Thums Up, Sprite and Maaza in its India portfolio. Thums Up is now very close to becoming a USD 2 billion brand. Maaza, Thums Up and Limca were acquired by The Coca-Cola Company in 1993, when the Atlanta-headquartered company had re-entered the Indian market, from Ramesh Chauhan of Parle Bisleri. Live Events Coca-Cola had then bought the entire portfolio of aerated drinks from the Chauhan brothers, which also included Gold Spot. Vinay Nair, Vice President, Franchise Operations, Developing Markets, Coca-Cola India and Southwest Asia, said Limca's story is one of resilience, reinvention, and a pursuit of excellence. "Our success is anchored in a simple but powerful playbook - innovating products that cater to evolving consumer needs, expanding distribution to both urban and rural India, and executing marketing campaigns that connect passion and purpose," he said. In 2024 Coca-Cola extended Limca in the hydration space. It had introduced Limca GlucoCharge, a beverage with glucose and electrolytes and its launch campaign had featured Olympic gold medalist Neeraj Chopra. In India its beverage range includes Coca-Cola, Diet Coke, Thums Up, Fanta, Limca, Sprite, Maaza, Minute Maid range of juices and Honest Tea. PTI
Axios
07-05-2025
- Business
- Axios
AvidXchange acquired for $2.2B
Charlotte-based fintech company AvidXchange is being sold for $2.2 billion to two firms. Why it matters: AvidXchange is one of Charlotte's biggest startup success stories, growing from a couple of guys in a coffee shop in 2000 to a unicorn by 2021, and now employing 1,600 people nationwide. Nearly 1,200 of those employees are based in the Charlotte metro, according to the company's LinkedIn. Driving the news: TPG, a San Francisco-based private equity firm, will acquire a majority interest in AvidXchange, according to a press release. Atlanta-headquartered Corpay, a global business payments and spend management company, will acquire a minority interest. AvidXchange, which went public in 2021, will become a private company. TPG and Corpay will acquire AvidXchange for $10 per share in an all-cash transaction. This represents a 22% premium over the company's closing price of $8.20 on Tuesday and a 45% premium over the $6.89 closing price as of March 12 — the last trading day before reports of a potential sale surfaced. Some AvidXchange executives agreed to roll over a "significant portion" of their equity for the deal, according to the press release. Flashback: As the story goes, CEO Michael Praeger and co-founder David Miller started AvidXchange in 2000 in a coffee shop, with the idea to change how mid-sized companies manage their accounts payable and payments. The company grew organically and through acquisitions, including the 2014 purchase of Salt Lake City-based Piracle, into a leading provider of accounts payable automation software and payment solutions. AvidXchange moved into a newly built headquarters at the Music Factory in 2017 and holds the naming rights to the complex. That same year, the company reached unicorn status with a valuation of $1 billion. What they're saying: In a joint press release, the companies said taking AvidXchange private will allow "flexibility to continue investing in growth and delivering integrated payment solutions that enable greater efficiency, visibility, and control for customers." Ron Clarke, chairman and CEO of Corpay, said AvidXchange is highly complementary to its corporate payments business. AvidXchange works with more than 8,500 middle-market businesses. "With TPG and Corpay, we will have the resources and long-term focus to scale our platform and provide more innovative solutions that help our customers across the country transform their accounts payable processes," Praeger said. What's next: The transaction is expected to close in the fourth quarter of 2025.
New Indian Express
29-04-2025
- Business
- New Indian Express
Coca-Cola reports double-digit volume growth in Q1 in India, helped by Thums UP
NEW DELHI: Soft drinks major The Coca-Cola Company witnessed "double-digit volume growth" in the Indian market in the March quarter, helped by home-grown brand Thums Up and Coca-Cola. Moreover, markets, including India, China, and Brazil, also helped the Coca-Cola company to log 2 percent unit case volume globally in the March quarter, according to the latest earnings statement from the Atlanta-headquartered beverages major. "In India, trademark Coca-Cola and Thums Up, a cherished regional brand, are fuelling consumers and contributing to double-digit volume growth for the market in the first quarter," it said. The global earnings statement also drew attention to the Mahakumbh Mela held in Prayagraj, where the beverage major had a historic integrated activation of its brands, like never before. During the investors' call, James Quincey, Chairman and CEO of The Coca-Cola Company, called out India as a market that has demonstrated a strong volume growth of global and local brands. "In India, we have strong volume growth of global and local brands," he said. Quincey further added, "Our system added nearly 350,000 outlets and increased household penetration. Also our system increased cooler basement and added approximately 100,000 customers to its digital customer platforms." However, the Indian market had a decline in the NARTD beverages (non-alcoholic ready-to-drink), which includes fruit juices, energy drinks, sports beverages, and dairy alternatives. "Value share in total NARTD beverages for the company was even as gains in the Philippines and Japan were offset by declines in Indonesia and India," it said. India is the fifth largest market for The Coca-Cola Company Unit case volume means the number of unit cases of company beverages directly or indirectly sold by the company and its bottling partners to customers. In the Asia Pacific market, in which India is included, unit case volume grew 6 per cent, driven by growth across all global beverage categories. However, Coca-Cola's net operating revenue in the Asia Pacific zone was down 4.05 per cent to USD 1.42 billion for the quarter ended on March 28, 2025. "Operating income declined 5 per cent, which included items impacting comparability and an 11-point currency headwind. Comparable currency-neutral operating income (non-GAAP) grew 7 per cent, primarily driven by organic revenue (non-GAAP) growth and the timing of marketing investments," it said. The Atlanta-headquartered company reported a decline of 1.5 per cent growth in its consolidated net operating revenue to USD 11.13 billion. Commenting on the results, Chairman and CEO of The Coca-Cola Company James Quincey said, "Despite some pressure in key developed markets, the power of our global footprint allowed us to successfully navigate a complex external environment. By remaining true to our purpose and staying close to the consumer, we are confident in our ability to create enduring long-term value." The Coca-Cola company in its earning statement made a special mention of Mahakumbha mela in India, which took place in Prayagraj, Uttar Pradesh, held from January 13 to February 26, 2025. "The Maha Kumbh Mela festival in India occurs every 144 years and is considered the world's largest in-person gathering with an estimated 660 million attendees in 2025. For the first time in the company's history, the system intensified an integrated activation consisting of hundreds of refreshment zones, approximately 1,400 mobile stations and a world-record-long 100 cooler-door wall, leading to over 180 million servings consumed during the gathering," said Coca-Cola. This is as per strategy capturing compelling geographic opportunities with a local approach "to capitalise on the vast opportunities in developing and emerging markets, where approximately 80 per cent of the world's population resides".
&w=3840&q=100)
Business Standard
29-04-2025
- Business
- Business Standard
Coca-Cola reports double-digit volume growth in India, helped by Thums Up
Soft drinks major The Coca-Cola Company witnessed "double-digit volume growth" in the Indian market in the March quarter, helped by home-grown brand Thums Up and Coca-Cola. Moreover, markets, including India, China, and Brazil, also helped the Coca-Cola company to log 2 per cent unit case volume globally in the March quarter, according to the latest earnings statement from the Atlanta-headquartered beverages major. "In India, trademark Coca-Cola and Thums Up, a cherished regional brand, are fuelling consumers and contributing to double-digit volume growth for the market in the first quarter," it said. The global earnings statement also drew attention to the Mahakumbh Mela held in Prayagraj, where the beverage major had a historic integrated activation of its brands, like never before. During the investors' call, James Quincey, Chairman and CEO of The Coca-Cola Company, called out India as a market that has demonstrated a strong volume growth of global and local brands. "In India, we have strong volume growth of global and local brands," he said. Quincey further added, "Our system added nearly 350,000 outlets and increased household penetration. Also our system increased cooler basement and added approximately 100,000 customers to its digital customer platforms." However, the Indian market had a decline in the NARTD beverages (non-alcoholic ready-to-drink), which includes fruit juices, energy drinks, sports beverages, and dairy alternatives. "Value share in total NARTD beverages for the company was even as gains in the Philippines and Japan were offset by declines in Indonesia and India," it said. India is the fifth largest market for The Coca-Cola Company. Unit case volume means the number of unit cases of company beverages directly or indirectly sold by the company and its bottling partners to customers. In the Asia Pacific market, in which India is included, unit case volume grew 6 per cent, driven by growth across all global beverage categories. However, Coca-Cola's net operating revenue in the Asia Pacific zone was down 4.05 per cent to USD 1.42 billion for the quarter ended on March 28, 2025. "Operating income declined 5 per cent, which included items impacting comparability and an 11-point currency headwind. Comparable currency-neutral operating income (non-GAAP) grew 7 per cent, primarily driven by organic revenue (non-GAAP) growth and the timing of marketing investments," it said. The Atlanta-headquartered company reported a decline of 1.5 per cent growth in its consolidated net operating revenue to USD 11.13 billion. Commenting on the results, Chairman and CEO of The Coca-Cola Company James Quincey said, "Despite some pressure in key developed markets, the power of our global footprint allowed us to successfully navigate a complex external environment. By remaining true to our purpose and staying close to the consumer, we are confident in our ability to create enduring long-term value." The Coca-Cola company in its earning statement made a special mention of Mahakumbha mela in India, which took place in Prayagraj, Uttar Pradesh, held from January 13 to February 26, 2025. "The Maha Kumbh Mela festival in India occurs every 144 years and is considered the world's largest in-person gathering with an estimated 660 million attendees in 2025. For the first time in the company's history, the system intensified an integrated activation consisting of hundreds of refreshment zones, approximately 1,400 mobile stations and a world-record-long 100 cooler-door wall, leading to over 180 million servings consumed during the gathering," said Coca-Cola. This is as per strategy capturing compelling geographic opportunities with a local approach "to capitalise on the vast opportunities in developing and emerging markets, where approximately 80 per cent of the world's population resides".
