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Coca-Cola Amatil Limited (ASX:CCL) boss Terry Davis says the group may as well appoint an investment bank and exit the market amid the heavy influence of major retailers and a general decline in the retail sector, according to media reports.
Mr Davis reportedly told the Australia Israel Chamber of Commerce in Brisbane he was appreciative of the fact more than half of the business supplied retailers other than supermarkets.
He says it’s alright if you’re the number one or two brand, but if you’re number three and can’t see a way of getting out, you ought to find an investment bank to sell the business.
Mr Davis was referring to Coca-Cola Amatil’s status as the number three brand.
He reportedly says the situation is terminal because after the number one and two brands, there is not much left.
Coca-Cola Amatil generated a net profit of $460 million in its 2012 financial year.
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