The Coca Cola Company sells majority stake in African operations

November 6, 2025 in Business, Companies, Investment by Editor

Coca Cola HBC acquired the 75 pc from The Coca-Cola Company (TCCC) based in Atlanta Georgia and Gutsche Family Investments Pty Ltd (GFI) for a combined purchase price of $2.6 billion, giving CCBA an equity value of $3.4 billion.

Coca-Cola HBC, formerly the Coca-Cola Hellenic Bottling Company and headquartered in Switzerland, has reached an agreement to acquire 75 pc of Coca-Cola Beverages Africa (CCBA), creating the second largest Coca-Cola bottling partner by volume globally, with leading market positions across Africa and Europe.

Based in Johannesburg CCBA operates in 14 markets across Africa, representing 40 pc of Coca-Cola system volumes sold across the continent. Following the announcement, Anastassis G. David, the Coca-Cola HBC Chairman said, “This milestone marks a historic moment for Coca-Cola HBC and continues our legacy of growth and partnership across Africa. For decades, we have invested to unlock Africa’s extraordinary potential. We look forward to accelerating this positive momentum with CCBA to deliver lasting value for our stakeholders, and make a positive impact in the communities we serve.”

He 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.”

CCBA was formed in 2014 from the merger of SABMiller, TCCC and GFI and has beverage bottling operations in Southern and East Africa. The acquisition is being funded through a new bridge financing facility to cover the cash consideration and Coca-Cola HBC shares issued to GFI representing 5.47 pc of Coca-Cola HBC’s enlarged issued and outstanding share capital.

In addition, Coca-Cola HBC and TCCC have agreed to enter into an option agreement enabling Coca-Cola HBC to purchase, or TCCC to sell, the remaining 25% equity interest in CCBA still owned by TCCC following completion.

Henrique Braun, the Executive Vice President and Chief Operating Officer of TCCC said, “Coca -Cola HBC is a trusted and important bottler and will play a key role in CCBA’s next phase of growth. Like Coca-Cola HBC, we see tremendous opportunity for growth and value creation in Africa. We appreciate Coca-Cola HBC’s vital role in The Coca-Cola Company system and ongoing investment in growing our business.”

Coca-Cola HBC intends to pursue a secondary listing on the Johannesburg Stock Exchange to underpin its commitment to both South Africa and the African continent.

GFI Chairman, Philipp H Gutsche said, “The Gutsche family have been committed to The Coca-Cola Company business in Southern and East Africa for 85 years and are confident that Coca-Cola HBC are the right partners to take the CCBA business forward to successfully achieve the joint vision for the Coca-Cola system in Africa. The Gutsche family will remain invested in the Coca-Cola system, and Africa, through its shareholding in Coca-Cola HBC.”