COCA-COLA EUROPEAN PARTNERS OFFICIALLY OPENS THEIR NEWEST OFFICE IN VARNA, BULGARIA

On 24 June, Coca-Cola European Partners (CCEP) opened its new finance services office in Varna, Bulgaria. The CEO of Coca-Cola European Partners Damian Gammell, the CFO Nik Jhangiani and the Vice President for Finance Shared Services Tamsin Hoborough cut the ribbon and officially opened the new facility, together with the Mayor of Varna Ivan Portnih, The Head of Political Section of U.K. Embassy Tom Hines and the Head of Employment Agency Varna Bozhidar Mihaylov.

The new Finance office in Varna will open over 90 new jobs for the local community that will take on finance shared services responsibilities. This is an expansion to CCEP’s existing office in Sofia which opened in 2013 and now consists of approximately 800 employees.

“We are very happy to open our second office in Bulgaria in the beautiful city of Varna. We believe that the sea capital has an excellent pool of young professionals with language skills and competence in the sphere of finance. We were even more impressed, when holding the interviews, by the enthusiasm and capability demonstrated by the applicants” said Tamsin Hoborough, VP Finance Shared Services.

Nik Jhangiani, CFO added, “This is an exciting time for our Bulgarian team, and we are delighted to be welcoming our new colleagues from Varna into the Coca-Cola family.”

“I am grateful to CCEP for the decision they made to invest in Varna, appreciating our potential, and our most important resource – the young, qualified people,” said Ivan Portnih, Mayor of Varna.

CCEP is the Coca-Cola bottler for 13 European countries in Western Europe. The company does not bottle or sell in Bulgaria, but like the Coca-Cola bottler for Bulgaria and the region, Coca-Cola Hellenic Bottling Company (CCHBC), CCEP developed its financial shared services hub in the country.

 


Coca-Cola has a long history in Bulgaria and its presence and investment are an integral part of the local business community and society. Currently there are 6 Coca-Cola entities in the country: Coca-Cola European Partners Services Bulgaria which provides shared services for the CCEP group, Coca-Cola Bulgaria – the local subsidiary of The Coca-Cola Company (TCCC); Coca-Cola Hellenic Bottling Company (CCHBC) – the bottling partner of The Company; Coca-Cola Hellenic Business Services Organization which provides shared services for the CCHBC group and Coca-Cola Hellenic Group IT Services. Coca-Cola and its bottling partners, CCHBC and CCEP, provide 40% of the jobs in the soft drink industry in Bulgaria. With CCEP’s presence in Varna, the Coca-Cola System will further enlarge its operations.

Currently, the total contribution of the Coca-Cola System in Bulgaria is 0.6% of the country’s GDP. The System maintains a total of 19,800 jobs or 0.7% of the labour market in the country (excluding the new Varna office). Every 1 lev spent on drinks from the Coca-Cola portfolio results in a revenue of BGN 0.64. The Coca-Cola System in Bulgaria has paid direct and indirect taxes of BGN 236 million for 2017. The amount equals 2% of Bulgaria’s tax revenues and also the annual cost of the education of 87,700 pupils.

 


More about CCEP

Coca-Cola European Partners PLC is a leading consumer goods company in Western Europe, making, selling and distributing an extensive range of non-alcoholic ready-to-drink beverages and is the world’s largest Coca-Cola bottler based on revenue. Coca-Cola European Partners serves a consumer population of over 300 million across Western Europe, including Andorra, Belgium, continental France, Germany, Great Britain, Iceland, Luxembourg, Monaco, the Netherlands, Norway, Portugal, Spain and Sweden. The Company is listed on Euronext Amsterdam, the New York Stock Exchange, London Stock Exchange and on the Spanish Stock Exchanges, trading under the symbol CCEP.