Castel Malawi Limited (CML) has finally concluded the long-awaited step of selling and handing over the soft drinks business category to Coca-Cola Beverages Limited.
In February this year, CML sold its non-alcoholic beverages category – Southern Bottlers Limited (SOBO) to its historical commercial partner – Coca-Cola Beverages Limited (CCBL), a subsidiary of Coca-Cola Beverages Africa (CCBA).
However, the handover of the business category had delayed as management of the two companies concluded other managerial transactions.
Speaking at the handover ceremony, CML Managing Director Hervé Milhade reiterated that the expansion drive his company will help in creating more job opportunities, stimulate business growth, and guarantee more tax revenue to treasury for the economic development of Malawi.
Milhade therefore thanked his workforce and that of the Coca-Cola Beverages Limited for exercising their patience as the management finalized the process.
“May I take this opportunity to thank our employees who are going to join CCBL. My heartfelt farewell to them. They contributed tremendously into the process of turning around the business which was at the verge of collapsing 3 years ago. They will forever remain in our hearts. We are happy that they are joining a solid company and we are wishing them a successful future,” said Milhade.
“To our Castel employees, welcome to the new Castel family. You have remained calm and resilient throughout this journey. We have a bigger and more exciting future ahead of us as we develop our business further,” he added.
Milhade expressed his company’s commitment to continue giving its customers top-of-the-class products and services for the benefit of its employees, stakeholders, and the Malawi economy.
Recently, CML gave its employees an ‘above-market cost of living adjustment of 20 percent on basic salary’ to cushion them from the effects of the recent devaluation of the Malawi currency.