Coca-Cola plans to pump $4 billion into its China operations over the next three years, Coke CEO Muhtar Kent told the Wall Street Journal. Kent also said that Coke spent $3 billion in China since 2009, a billion more than it had originally planned.
China has become a key battlefield in Coca-Cola and PepsiCo’s eternal Cola War. Pepsi flagged $2.5 billion for expansion in China last year, so this announcement is a strong signal that Coke’s not backing down any time soon.
Kent also assured the WSJ that he won’t be pursuing any acquisitions. Coca-Cola had attempted a $2.4 billion buyout of local, privately owned Huiyuan Juice Group back in 2009, but the Chinese government shot down the deal.