The Coca-Cola Amatil Ltd (ASX: CCL) share price has continued its rise on Tuesday despite the market dropping lower.
In afternoon trade the beverage company's shares are up almost 1% to a 52-week high of $11.08.
Why is the Coca-Cola Amatil share price at a 52-week high?
Investors have been buying the company's shares this week following the announcement of changes to its organisational structure and senior accountabilities to further integrate beverage categories across each country of operation.
Management believes that the changes will play a role in the company's two-year transition phase which aims to return the company to mid-single digit earnings per share growth from 2020.
Coca-Cola Amatil's group managing director, Alison Watkins, advised that all beverage categories would now be managed in line with geographic responsibilities.
This means its Australian based Alcohol and Coffee portfolios will join the Australian Beverages team under the leadership of Peter West.
The Alcohol and Coffee business in New Zealand, Paradise Beverages in Fiji and Samoa, and the international alcohol sales team, will join the New Zealand and Fiji businesses under the leadership of Chris Litchfield.
And finally, the Coffee portfolio in Indonesia will be part of the Indonesian business under the leadership of Kadir Gunduz.
These changes are expected to deliver further synergies between the non-alcohol, alcohol, and coffee categories, as well as build on the existing integration in parts of the business.
Ms Watkins said: "Our partnerships with Beam Suntory, Molson Coors International, Caffitaly and other brand partners, together with our Amatil owned brands such as Grinders and Feral, put us in a strong position in the alcohol and coffee categories, and we expect that to continue. We've also worked closely with The Coca-Cola Company to implement the Australian Accelerated Growth Plan which sees our Australian Beverages business positioned for growth from 2020."
The company's managing director is optimistic that the alcohol and coffee categories will be key drivers of growth under the new structure.
"We will report on the Alcohol & Coffee segment for the 2019 financial year and we expect it to maintain its revenue and growth targets. This performance will continue to be driven by our customer and brand partner accountability combined with our world class spirits, beer and coffee capability," Ms Watkins added.
Other shares that have climbed to 52-week highs or better on Tuesday include payments company iSignthis Ltd (ASX: ISX) and energy producer Santos Ltd (ASX: STO).
