Coca-Cola Enterprises, Inc. (NYSE:CCE) Q4 2015 Earnings Conference Call - Final Transcript
Feb 11, 2016 • 10:00 am ET
Bryan Spillane, Bank of America.
Good morning, everyone. Just I think for Nik, just a follow-up or a clarification to Judy Hong's question. Just on that question about the growth to net synergies, just want to make sure because I heard it right. The difference is not these potential savings identified, it's just the amount of reinvestment and that reinvestment is discretionary, right?
If you were going choose to invest in something like marketing or some other investment in the business, it's not a offsetting some expected cost, it's truly just a discretionary decision, whether or not you guys decide to reinvest that or not?
Yes. To Bryan, let me just make sure, I'll read on the same page. The number that you've seen in the prospectus in the F-4, which was the $457 million, was Management estimate at the time, in August, July /August when we were positioning everything with the Board and looking at the transaction. Clearly, we feel comfortable in terms of the delivery of the $350 million to $375 million, which is what we committed to the market.
To your point, we would look to reinvest if we see the opportunity to grow the topline and there's a return on that investment that leads to profitable growth overtime, as well. So to that point, it is discretionary and more details are being worked through as we lay out, pre-closing, a five-year plan with the Coca-Cola Company for CCEP.
Got it. That's helpful. Thank you.
Okay. Well, thanks to all of you for joining us today. We appreciate your time and attention and have a great day. So long.
Ladies and gentlemen, this concludes today's conference. Thank you for your participation and have a wonderful day.