- Coca-Cola HBC has agreed to acquire a 75% stake in Coca-Cola Beverages Africa (CCBA) from The Coca-Cola Company and Gutsche Family Investments for $2.6 billion
- The transaction, announced on October, ranks among the largest in the history of the Coca-Cola system
- CCBA operates in 14 African markets including South Africa, Kenya, Ethiopia, Uganda, and Mozambique, and represents nearly 40% of Coca-Cola’s volumes sold across the continent
Coca-Cola HBC has agreed to acquire a 75% stake in Coca-Cola Beverages Africa (CCBA) from The Coca-Cola Company and Gutsche Family Investments for $2.6 billion, valuing CCBA at $3.4 billion. The transaction, announced on October, ranks among the largest in the history of the Coca-Cola system.
Headquartered in Johannesburg, CCBA operates in 14 African markets including South Africa, Kenya, Ethiopia, Uganda, and Mozambique, and represents nearly 40% of Coca-Cola’s volumes sold across the continent. The deal will make Coca-Cola HBC the world’s second-largest Coca-Cola bottler by volume.
Expected to close by the end of 2026 pending regulatory approvals, the acquisition will expand Coca-Cola HBC’s footprint to cover more than half of Africa’s population, generating a combined 4 billion unit cases and pro forma revenues of €14.1 billion. The company will fund the transaction through a €2.5 billion bridge facility and plans a secondary listing on the Johannesburg Stock Exchange to reinforce its commitment to Africa.
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Key Takeaways
The acquisition of CCBA marks a defining moment for Coca-Cola HBC’s long-term African growth strategy and signals renewed confidence in the continent’s consumer market. By consolidating Coca-Cola’s largest African bottling operations, HBC gains direct access to high-growth economies and a diversified portfolio of beverages tailored to local demand. The move also positions the company to capture synergies in distribution, procurement, and sustainability initiatives, while reinforcing its established presence in Nigeria and Egypt. The secondary listing on the JSE underscores the company’s commitment to local investors and to Africa’s fast-growing beverage sector, which is projected to expand as urbanization and disposable incomes rise. With CCBA’s 37 plants and 14,000 employees integrated into its network, Coca-Cola HBC aims to build a pan-African beverage powerhouse capable of driving operational efficiencies and long-term shareholder value, while advancing sustainability and employment across the region.
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