Coca-Cola HBC buys 75% of Coca-Cola Africa for US$2.6bn
Swiss-based bottler, Coca-Cola Hellenic Bottling Company (Coca-Cola HBC), has agreed to acquire a 75 per cent stake in Coca-Cola Africa for USD2.6 billion, in a deal that will make it one of the most influential beverage players on the continent once completed.
The deal, which has been in progress since 2021, grants Coca-Cola HBC operational control of one of Africa’s largest bottlers, expanding its footprint into 14 additional markets, including Nigeria, South Africa, Kenya, Ethiopia, Tanzania, Mozambique, and Ghana.
“Coca-Cola HBC is a strong and valued bottler that will help usher in the next chapter of growth for Coca-Cola Africa,” said Coca-Cola Chief Operating Officer Henrique Braun.
The transaction values Coca-Cola Africa at USD3.4 billion and is expected to close by the end of 2026, pending regulatory and antitrust approvals.
Under the deal, Coca-Cola HBC will purchase shares from The Coca-Cola Company and Gutsche Family Investments (GFI), which currently control 66.5 per cent and 33.5 per cent of Coca-Cola Africa respectively. Coca-Cola HBC will also have the option to buy the remaining 25 per cent stake within six years of the deal’s completion.
Founded in 2014, Coca-Cola Africa operates across more than a dozen African countries and produces roughly 40 per cent of all Coca-Cola beverages sold on the continent.
The acquisition will give Coca-Cola HBC control of a fast-growing portfolio that includes popular brands such as Coca-Cola, Fanta, Sprite, and Minute Maid, and in some markets, energy drinks like Monster.
Coca-Cola HBC, which is listed in London and Athens, also announced plans for a secondary listing on the Johannesburg Stock Exchange to signal its commitment to the African market.
Despite optimism surrounding the acquisition, it has sparked labour concerns in South Africa, where reports indicate potential job cuts at Coca-Cola Beverages South Africa as part of the merger’s restructuring phase.
“In response to evolving industry dynamics, Coca-Cola Beverages South Africa intends to make adjustments to its organisation that, if implemented, may result in some roles being impacted and may, unfortunately, lead to job losses,” the company noted.
Trade unions have cautioned against possible layoffs, urging management to prioritise job security alongside operational efficiency. Coca-Cola HBC has maintained that the deal will strengthen long-term investment, encourage technology transfer, and enhance operational sustainability across the region.
