Coca-Cola Hellenic Bottling Company (Coca-Cola HBC) is set to deepen its foothold across Africa with the planned acquisition of a 75 percent controlling stake in Coca-Cola Beverages Africa (CCBA) for $2.6 billion, a move that will cement its status as one of the largest Coca-Cola bottlers in the world.
The transaction, expected to close by the end of 2026, is projected to reshape Coca-Cola’s operational structure on the continent, giving Coca-Cola HBC a dominant role in one of the world’s fastest-growing consumer markets.
Under the new agreement, the company will assume ownership of bottling operations in 14 additional African countries, including South Africa, Kenya, Ethiopia, and Tanzania. This expansion will see Coca-Cola HBC managing roughly two-thirds of Coca-Cola’s total bottling volume in Africa and serving more than half of the continent’s population, according to details released on Tuesday.
Coca-Cola HBC, which already operates extensively in Nigeria, Egypt, and North Africa, described the acquisition as a defining step in its long-term plan to consolidate its presence in emerging markets where rising incomes and a youthful population are driving consumption.
“This transaction marks a transformational milestone for Coca-Cola HBC,” the company said. “By combining two powerful operations, we expect to unlock new efficiencies, expand our scale, and accelerate sustainable growth across the continent.”
As part of its expansion strategy, Coca-Cola HBC also announced plans to pursue a secondary listing on the Johannesburg Stock Exchange (JSE) after the deal is completed. The move aims to attract local investors and reaffirm the company’s confidence in South Africa’s economy and Africa’s long-term growth prospects.
Coca-Cola Beverages Africa, headquartered in Johannesburg, was formed in 2016 through the merger of several regional bottlers. Since then, it has grown into the largest Coca-Cola bottler in Africa and one of the top ten globally, operating across key markets in the southern, eastern, and central parts of the continent.
Once the acquisition is finalized, Coca-Cola HBC will become a critical player within The Coca-Cola Company’s global network, ranking second only to Coca-Cola Europacific Partners by production capacity.
Nigeria remains central to Coca-Cola’s African growth strategy. In 2021, the global beverage company unveiled a $1 billion, five-year investment plan aimed at expanding its operations and improving supply chains in Nigeria. However, the plan was later suspended due to rising excise duties and macroeconomic challenges that disrupted its projections.
Despite that setback, Coca-Cola and the Nigerian Bottling Company (NBC) have invested more than $1.5 billion in Nigeria over the past decade, underscoring their commitment to maintaining a strong production and distribution presence in the country.
Analysts say the acquisition signals renewed optimism in Africa’s consumer market, which is expected to experience steady growth over the next decade driven by urbanization, population expansion, and a growing middle class.
By consolidating control of Coca-Cola Beverages Africa, Coca-Cola HBC will not only streamline its bottling operations but also position itself to meet increasing demand for non-alcoholic beverages across diverse markets, from established hubs like South Africa to emerging economies in East and Central Africa.
Industry observers view the move as part of a broader trend among multinational corporations doubling down on Africa’s long-term potential, despite short-term economic headwinds.
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Coca-Cola HBC Moves to Acquire 75% of Coca-Cola Beverages Africa in $2.6 Billion Expansion Drive
Coca-Cola Hellenic Bottling Company (Coca-Cola HBC) is set to deepen its foothold across Africa with the planned acquisition of a 75 percent controlling stake
