Coca-Cola sells 40% stake in India bottling business to THIS group, not Mukesh Ambani's Reliance, Adani Group

Coca-Cola has sold a 40 per cent stake in its India bottling business Hindustan Coca-Cola Beverages Pvt Ltd (HCCBL). Though the company has not disclosed the amount of the deal, some media reports have pegged it at around Rs 10,000 crore. The global beverages major has sold the stake to Jubilant Bhartia Group, a multi-billion conglomerate with a global presence in diverse sectors. HCCBL is the parent company of the largest Coca-Cola bottler in India. India is the fifth largest market of Coca-Cola globally.

These changes and investment represent a significant milestone for Coca-Cola as the company continues to pursue its purpose to refresh the world and make a difference, it said. "With its diverse experience in various sectors, Jubilant brings decades of rich experience that will help accelerate the Coca-Cola system, enabling us to win in the market and provide greater value to local communities and consumers,” Coca-Cola India President Sanket Ray said.

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The Atlanta-headquartered firm is divesting bottling operations globally as part of its asset-light strategy. In India, the company had franchised its bottling operations to its existing bottlers in three key markets - Rajasthan, Bihar, Northeast, and parts of West Bengal to its existing bottlers.

Hindustan Coca-Cola Beverages CEO Juan Pablo Rodriguez said: ”This strategic investment represents an important milestone in our journey. Jubilant Bhartia Group's expertise, complements our strengths, ensuring that we continue delivering exceptional value to our stakeholders while driving innovation and sustainable progress.” 

Shyam S Bhartia, Founder and Chairman and Hari S Bhartia, Founder and Co-Chairman of Jubilant Bhartia Group, said the investment is an ideal addition to their business. Coca-Cola operates in the Indian market with two entities - Coca-Cola India and its bottling arm Hindustan Coca-Cola Beverages Pvt Ltd. Its products include Coca-Cola, Thums Up, Sprite, Minute Maid, Maaza, SmartWater, Kinley, Limca, Fanta, and a lot more.

(Except for the headline, this story has not been edited by DNA staff and is published from PTI)