Coca-Cola HBC has reached an agreement to acquire a majority 75% stake in Coca-Cola Beverages Africa from The Coca-Cola Company and Gutsche Family Investments for US$2.6 billion, creating the second largest Coca-Cola bottling partner by volume globally.
Coca-Cola Beverages Africa operates in 14 markets across Africa, representing 40% of Coca-Cola system volumes sold across the continent.
The acquisition materially expands Coca-Cola HBC’s existing African presence, driving further scale and diversification in high growth markets with compelling long-term demographics, unlocking opportunities for growth.
Completion is targeted by the end of 2026.
Zoran Bogdanovic, CEO of Coca-Cola HBC, said: “We are very excited to announce the acquisition of a majority stake in CCBA, with a path to full ownership.
“Having established our business in Nigeria nearly 75 years ago and with our successful acquisition and integration of the Egypt business three years ago, we have a deep understanding of the compelling proposition Africa presents. It has a sizable and growing consumer base, and there are significant opportunities to increase per capita consumption.
“With our best-in-class bespoke capabilities, commercial expertise and industry-leading approach to sustainability and communities, underpinned by our talent, we believe we have the winning formula to drive sustainable, profitable growth and create value for all stakeholders.
“We appreciate the trust placed in us by The Coca-Cola Company and GFI, and look forward to welcoming the CCBA team to Coca-Cola HBC and driving joint success.”