Swiss Coca-Cola HBC announces $2.6bn agreement to take over Africa’s largest bottler

According to Bloomberg, the deal, which has been in progress since 2021, grants Coca-Cola HBC operational control of one of Africa’s largest bottlers, expanding its footprint into 14 additional markets, including Nigeria, South Africa, Kenya, Ethiopia, Tanzania, Mozambique, and Ghana.

“Coca-Cola HBC is a strong and valued bottler that will help usher in the next chapter of growth for CCBA,” said Coca-Cola Chief Operating Officer Henrique Braun.

The transaction values CCBA at US$3.4 billion and is expected to close by the end of 2026, pending regulatory and antitrust approvals.

Under the deal, Coca-Cola HBC will purchase shares from The Coca-Cola Company and Gutsche Family Investments (GFI), which currently control 66.5% and 33.5% of CCBA respectively.

Coca-Cola HBC will also have the option to buy the remaining 25% stake in CCBA within six years of the deal’s completion, according to official statements from both companies.

Founded in 2014, CCBA operates across more than a dozen African countries and produces roughly 40% of all Coca-Cola beverages sold on the continent.

The acquisition will give Coca-Cola HBC control of a fast-growing portfolio that includes popular brands such as Coca-Cola, Fanta, Sprite, and Minute Maid, and in some markets, energy drinks like Monster.

Coca-Cola HBC, which is listed in London and Athens, also announced plans for a secondary listing on the Johannesburg Stock Exchange to signal its commitment to the African market.

“In response to evolving industry dynamics, Coca-Cola Beverages South Africa intends to make adjustments to its organisation that, if implemented, may result in some roles being impacted and may, unfortunately, lead to job losses,” the company said at the time.

Trade unions have since cautioned against possible layoffs, urging management to prioritise job security alongside operational efficiency. Coca-Cola HBC, however, has maintained that the deal will strengthen long-term investment, encourage technology transfer, and enhance operational sustainability across the region.

Beyond its corporate implications, the transaction could reshape Africa’s industrial and consumer landscape. The US$2.6 billion investment, which values the deal at US$3.4 billion, reinforces confidence in African markets at a time when many global firms remain cautious about emerging economies.

Africa’s beverage industry, valued at over US$60 billion, is expanding rapidly, driven by population growth, urbanisation, and a youthful consumer base.

The Coca-Cola HBC–CCBA deal represents a strategic bet on the continent’s rising purchasing power and evolving middle class.

If executed effectively, the acquisition could help transform Africa from a peripheral market into a manufacturing and innovation hub for global beverage production, firmly cementing Coca-Cola’s long-term stake in the continent’s economic future.