Coca-Cola, a leading global beverage company, has divested a 40 percent stake in its Indian bottling subsidiary, Hindustan Coca-Cola Beverages Pvt Ltd (HCCBL), to the Jubilant Bhartia Group. Morgan Stanley served as the exclusive financial advisor for this transaction, the group announced.
The investment supports our strategic goal of expanding and diversifying into high-growth sectors, stated Hari S. Bhartia, the group’s founder and co-chairman. While the company has not revealed the deal’s value, various media sources estimate it to be approximately Rs 10,000 crore.
The Coca-Cola Company announced today that it has finalized an agreement with Jubilant Bhartia Group, a multi-billion dollar conglomerate with a global footprint across various sectors, to acquire a 40 percent stake in Hindustan Coca-Cola Holdings Pvt Ltd, the parent company of India’s largest Coca-Cola bottler, Hindustan Coca-Cola Beverages Pvt Ltd, according to a joint statement.
This investment marks a significant milestone for Coca-Cola as the company strives to fulfill its mission of refreshing the world and making a positive impact, the statement added.
In response to the announcement, Sanket Ray, President of Coca-Cola India, stated: We are pleased to welcome Jubilant Bhartia Group to the Coca-Cola System in India.
Their extensive experience across multiple sectors will contribute significantly to our efforts, helping us enhance our market presence and deliver greater value to local communities and consumers.
India ranks as Coca-Cola’s fifth-largest market worldwide. The Atlanta-based company is selling off its bottling operations globally as part of its asset-light strategy. This strategic investment marks a significant milestone in our journey.
The expertise of Jubilant Bhartia Group enhances our strengths, allowing us to continue providing exceptional value to our stakeholders while fostering innovation and sustainable growth, stated Juan Pablo Rodriguez, CEO of Hindustan Coca-Cola Beverages.
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