Macay Holdings, the investment firm of Zest-O founder Alfredo Yao, has completed its takeover of RC Global Beverages (RCGBI), which owns the international rights to produce RC Cola beverages.
This comes after the fulfillment of agreed closing conditions as provided under the share purchase agreement which was executed on October 28, 2022.
RCGBI holds the global licensing rights to RC Cola and associated brands in over 100 countries, excluding US, Mexico and Canada.
It also develops flavors and provides concentrates for customers in different countries.
The $21.4 million acquisition will provide geographic and political/country risk diversification to Macay.
It is also seen to enhance synergies between Macay, Philippine Bottler of RC Cola, and RCGBI, as trademark owner and supplier of concentrates.