Global beverages major Coca-Cola has sold 40 per cent stake in its India bottling business Hindustan Coca-Cola Beverages Pvt Ltd (HCCBL) to Jubilant Bhartia Group. Though the company has not disclosed the amount of the deal, some media reports have pegged it at around Rs 10,000 crore.
“The Coca-Cola Company today announced that it has reached an agreement with Jubilant Bhartia Group, a multi-billion conglomerate with global presence in diverse sectors, to acquire 40 per cent stake in Hindustan Coca-Cola Holdings Pvt Ltd, the parent company of the largest Coca-Cola bottler in India, Hindustan Coca-Cola Beverages Pvt Ltd,” a joint statement said.
These changes and investment represent a significant milestone for Coca-Cola as the company continues to pursue its purpose to refresh the world and make a difference, it said.
Also Read Suven Pharmaceuticals Share Price Today Highlights, 09 Dec, 2024: Suven Pharmaceuticals closes 0.28% lower RBL Bank shares recover after 5 per cent intraday plunge Oil And Natural Gas Corporation Share Price Highlights, 29 Nov, 2024: Oil And Natural Gas Corporation closes 1.8% higher KEC International bags significant orders worth Rs 1704 crore for its Transmission & Distribution business
Also ReadTelecom industry focus: July tariff-hike boosts industry AGR in Q2, full impact likely in next 1-3 quarters
“With its diverse experience in various sectors, Jubilant brings decades of rich experience that will help accelerate the Coca-Cola system, enabling us to win in the market and provide greater value to local communities and consumers,” Coca-Cola India President Sanket Ray said.
India is the fifth largest market of Coca-Cola globally. The Atlanta-headquartered firm is divesting bottling operations globally as part of its asset-light strategy. In India, the company had franchised its bottling operations to its existing bottlers in three key markets – Rajasthan, Bihar, Northeast, and parts of West Bengal to its existing bottlers.
Hindustan Coca-Cola Beverages CEO Juan Pablo Rodriguez, said, ”This strategic investment represents an important milestone in our journey. Jubilant Bhartia Group’s expertise, complements our strengths, ensuring that we continue delivering exceptional value to our stakeholders while driving innovation and sustainable progress.” Shyam S Bhartia, Founder and Chairman and Hari S Bhartia, Founder and Co-Chairman of Jubilant Bhartia Group, said the investment is an ideal addition to their business.
» Read More
