Coca-Cola, Partner Sell Majority Stake in Africa Bottler for $2.6 Billion

By Najat Kantouar

Coca-Cola and a long-standing South African associate reached a deal to sell a majority stake in Coke's largest bottler in Africa to a Switzerland-based bottling company for $2.6 billion.

The acquisition is set to turn London-listed, Switzerland-based Coca-Cola HBC into the second biggest bottler in the Coca-Cola system by volume after Coca-Cola Femsa, the companies said Tuesday.

Under the deal, Coca-Cola and partner Gutsche Family Investments agreed to sell a 75% stake in African bottler Coca-Cola Beverages Africa to Coca-Cola HBC, the companies said. Coca-Cola is selling 41.52% out of its 66.52% stake in CCBA, while the family holding is offloading its entire 33.48% stake, the companies said.

Coca-Cola HBC will partly pay for the acquisition by issuing shares to Gutsche Family Investments representing a 5.47% stake, it added.

The acquisition values CCBA as a whole at $3.4 billion, they added.

Coca-Cola and its Switzerland-based bottling partner entered separate option agreement for a potential acquisition of the remaining 25% stake in CCBA within six years after the main deal is closed, they said.

In connection to the deal, Coca-Cola HBC said it plans to pursue a secondary listing on the Johannesburg Stock Exchange, adding to its existing listings in London and Athens.

Write to Najat Kantouar at najat.kantouar@wsj.com

(END) Dow Jones Newswires

October 21, 2025 03:16 ET (07:16 GMT)