Overview of Companies in the Philippines
Tobistro Foods operates CoCo in the Philippines. Having opened its first store in 2015, CoCo now has 35 stores nationwide. The Philippines has been an important Coca-Cola market since the early 1900s. Coca-Cola operates 19 plants and 50 offices across the country, employing over 9,700 people. In 2021, Coca-Cola Beverages Philippines invested over $90 million to increase capacity.
CoCo Background and Ownership
CoCo was founded in Taiwan in 1997 by Chairman Tommy Hung. Through 22 years of development, CoCo became a leading global bubble tea brand with over 4,500 locations worldwide. All CoCo ingredients are Jakim-certified halal.
Recent Developments in Cocoa Industry
Rebisco launched the Choco Mucho chocolate brand in 2006. Cocoa supply has fluctuated recently due to climate and economic factors. The Sandiganbayan ruled that over P75 billion in coco levy funds belong to the state for the benefit of coconut farmers and industry development.