Bottler Coca-Cola HBC AG reached an agreement on Tuesday to acquire a controlling stake in Coca-Cola Beverages Africa (CCBA) from The Coca-Cola Company and Gutsche Family Investments in a deal worth $3.4 billion, creating the world’s second-largest Coca-Cola bottling partner by volume.
Coca-Cola will sell about 42% of its stake in CCBA to Coca-Cola HBC, while the bottler is acquiring the entire 33.48% stake held by Gutsche Family Investments for a combined purchase price of $2.6 billion.
The deal values 100% of CCBA at an equity value of $3.4 billion.
CCH, which packages drinks such as Fanta, Sprite and Monster, intends to pursue a secondary listing on the Johannesburg Stock Exchange as part of the deal.
CCBA operates in 14 countries across Africa and accounts for about 40% of all Coca-Cola product volume sold on the continent.
The companies are targeting the transaction to close by the end of 2026 and have agreed to a separate option for Coca-Cola HBC to acquire Coca-Cola’s remaining 25% stake within six years of closing.
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