Coca-Cola, the global beverage giant, has sold 40 per cent stake of its Indian bottling operation, Hindustan Coca-Cola Beverages Pvt Ltd (HCCBL), to Jubilant Bhartia GroupWhilst the financial details remain undisclosed officially, media sources suggest the transaction value approximates Rs 10,000 crore.
“The Coca-Cola Company immediately introduced that it has reached an settlement with Jubilant Bhartia Group, a multi-billion conglomerate with world presence in various sectors, to purchase 40 per cent stake in Hindustan Coca-Cola Holdings Pvt Ltd, the guardian firm of the biggest Coca-Cola bottler in India, Hindustan Coca-Cola Beverages Pvt Ltd,” according to a joint announcement quoted by PTI.
The statement indicated that these modifications and investments mark a crucial development for Coca-Cola in its ongoing mission to refresh the world and create impact.
Regarding the transaction, Coca-Cola India President Sanket Ray stated: “We welcome Jubilant Bhartia Group to the Coca-Cola System in India. With its various expertise in numerous sectors, Jubilant brings many years of wealthy expertise that can assist speed up the Coca-Cola system, enabling us to win in the market and supply better worth to native communities and shoppers.”
India ranks as Coca-Cola’s fifth-largest market worldwide. The company, headquartered in Atlanta, is reducing its bottling operations globally as part of its asset-light approach.
Hindustan Coca-Cola Beverages CEO Juan Pablo Rodriguez commented: “This strategic funding represents an vital milestone in our journey. Jubilant Bhartia Group’s experience, enhances our strengths, guaranteeing that we proceed delivering distinctive worth to our stakeholders whereas driving innovation and sustainable progress.”
Coca-Cola India President Sanket Ray acknowledged: “We welcome Jubilant Bhartia Group to the Coca-Cola System in India.