In 1981, San Miguel spun off its soft drink businesses to a new company named Coca-Cola Bottlers Philippines, Inc. (CCBPI).

Seeking to maintain its focus on the Asia-Pacific region, San Miguel sold its stake in the new UK entity in mid-1998.

Cosmos specialized in low-priced soft drinks and held the number two position in the Philippine market.

[1] In February 2007, The Coca-Cola Company (TCCC) purchased San Miguel's 65% shareholding in CCBPI and subsidiaries for $590 million acquiring the full ownership.

[4] Part of this investment is the completion of its newest and technologically advanced Mega Plant in Misamis Oriental in January 2012.

[12][13] The company was renamed to Coca-Cola Europacific Aboitiz Philippines, Inc. effective January 15, 2025 to signify the new ownership.