Coca-Cola Hellenic Bottling Company (HBC) announced on Tuesday October 21, an agreement to acquire 75% of Coca-Cola Beverages Africa (CCBA), main African bottler of the American beverage manufacturer The Coca-Cola Company (TCCC).

With this acquisition, Coca-Cola HBC will become the second largest Coca-Cola bottler in the world by volume, with leading positions both in Europe and in Africa. CCBA, headquartered in in Johannesburg, operates in 14 African countries (including South Africa, Kenya, Ethiopia, Uganda and Mozambique) and represents nearly 40% of volumes sold by the Coca-Cola system on the continent.

The transaction, which should be finalized by the end of 2026 under subject to regulatory approvals, will allow Coca-Cola HBC to considerably strengthen its African presence, which is already well established in Nigeria since 1951 and in Egypt since 2022. After the transaction, Coca-Cola HBC will cover more than half of the African population and will achieve a volume combined of 4 billion individual cash registers, for a professional turnover Forma of 14.1 billion euros.

The acquisition will be financed by a bridge loan of 2.5 billions of euros, combining short and medium term facilities. Coca-Cola HBC will also cancel its share buy-back program to focus its resources on this operation.