Coca-Cola is set to sell a 40 per cent stake in its Indian bottling arm, Hindustan Coca-Cola Beverages (HCCB), to Jubilant Bhartia Group for Rs 12,500 crore which is approximately USD 1.47 billion. The transaction will be made through Jubilant Beverages, the group’s beverage entity.
For Jubilant Bhartia which is a multinational company with holdings in industries like food and pharmaceuticals and the exclusive franchisee for Domino’s Pizza in India, this is the biggest deal to date. Henrique Braun, President of International Development at Coca-Cola, expressed confidence in the deal, noting that the Jubilant Bhartia Group will bring valuable experience to further expand Coca-Cola’s business in India.
Moreover, HCCB has sold its bottling operations in Jharkhand to Moon Beverages, one of its largest franchisee bottling partners. Moon Beverages also operates Coca-Cola’s bottling in Delhi, parts of Uttar Pradesh, North-East India, and some areas in West Bengal.
