Coca-Cola Enterprises (CCE) is a producer, marketer and distributor of Coca-Cola products. It was founded in the year 1986 and was formerly the anchor bottler for most of North America; presently, it is the anchor bottler for Western Europe. Some of its products include Coca-Cola, Fanta, Sprite, Schweppes, Diet Coke and Coke Zero.
On Wednesday, shares of Coca-Cola Enterprises (CCE) went up after it launched its ‘campaign to Connect’ with the United Service Organizations. They still have been going up since then.
Shares of Coca-Cola Enterprises have climbed by 1% to $39.8, after the Atlanta-based beverage giant rolled out its patriotic “I’m proud to be an American” limited edition cans yesterday.
Just the previous day before the ‘Campaign to Connect’ launch, the shares of Coca-Cola Enterprises slid after merger with Coca-Cola Iberian Partners and Coca-Cola, Central German Soft drinks GmbH & Co. KG, forming Coca-Cola European Partners, was completed. Coca-Cola Enterprises has a market capitalization of $8.7 billion. It fell by 24.7% to close at $38.81 per share on Tuesday May 31, 2016 after this announcement of partnership.
Coca-Cola European Partners, which will serve 300 million customers across Western Europe, including Andorra, Belgium, continental France, Germany, Great Britain, Luxembourg, Monaco, the Netherlands, Norway, Portugal, Spain, and Sweden.
The new company owns pro forma net sales of approximately 11 billion Euros and pro forma EBITDA (Earnings before Interest, Tax, Depreciation and Amortization) of approximately 1.8 billion Euros.
The stock’s weekly, monthly, and year-to-date (or YTD) price movements were -22.5%, -25.6%, and -20.2%, respectively, as of this same day. This means that Coca-cola Enterprises is trading 25.5% below its 20-day moving average, 25.0% below its 50-day moving average, and 21.6% below its 200-day moving average.
The red, white and blue cans launched on this ‘Campaign to Connect’, honoring U.S. military men and women, may be contributing to the price spike in Coca-Cola Enterprises shares.
First announced in October, Coca-Cola Enterprises shareholders received a one-time payment of $14.50 per share as a result of the merger. The shareholders of the former beverage company- Coca-cola Enterprises now own 48% of the new company while Coca-Cola Iberian Partners and Coca-Cola, the previous owner of Coca-Cola Central German Soft drinks GmbH & Co. KG, own 34% and 18%, respectively, of the combined company.
The patriotic cans represent the company’s 75-year partnership with the United Service Organizations and will be available through July 4. The initiative also comes as part of the companies’ joint “Campaign to Connect,” which asks Americans to send one million messages of support to members of the armed forces.
The “I’m proud to be an American” lyric and patriotic design will be on 16-ounce cans and 12-ounce cans that come in 20, 24 and 35-packs.