Coca Cola Iceçek Our EM Pick

摘要

In our opinion, Turkey-based Coca Cola Iceçek (CCI) could be nthe fastest growing major Coca-Cola franchise bottler over the nnext five years – just as it has been over the last five. We really like nits prospects fundamentally. Geographically, it does almost all its ninternational business in large frontier economies, where incomes nare growing quickly and alcohol is not widely consumed; while its nlong-term prospects in fast-growing and increasingly affluent Turkey nclearly are not bad either. So this is a company that does almost all nits business in emerging and frontier economies, which in the case nof soft drinks, is a huge deal.