Global beverage giant Coca-Cola has sold 40 percent of its Indian bottling operations. India Coca-Cola Beverages From Private Limited (HCCBL). Jubilant Bharatiya Group. While the financial details have not been officially disclosed, media sources suggest that the transaction value is around Rs 10,000 crore.
“The Coca-Cola Company today announced that it has entered into an agreement with the Jubilant Bharatiya Group, a multi-billion conglomerate with global presence in diversified sectors, to acquire 40% stake in India’s Coca-Cola Holdings Pvt. , is its parent company, India’s largest bottler of Coca-Cola, Hindustan Coca-Cola Beverages Pvt. Ltd.,” a joint statement quoted PTI as saying.
The statement indicated that these modifications and investments mark a significant step forward for Coca-Cola in its ongoing mission to innovate and create impact around the world.
Commenting on the transaction, Sanket Ray, President, Coca-Cola India said: “We welcome the Jubilant Bharatiya Group to the Coca-Cola system in India. With its diverse experience in various sectors, Jubilant brings decades of rich experience. That will help Coca-Cola accelerate the system, enabling us to win in the market and deliver greater value to local communities and consumers.”
India ranks as Coca-Cola’s fifth largest market worldwide. The company, headquartered in Atlanta, is shrinking its bottling operations globally as part of its asset-light approach.
Juan Pablo Rodriguez, CEO of Coca-Cola Beverages India commented: “This strategic investment represents an important milestone in our journey. The Jubilant Bharatiya Group’s expertise, complementing our strengths, ensures May we continue to deliver exceptional value to our stakeholders through innovation and sustainable development.”