Coca-Cola sells 40% stake of bottling arm HCCBL to Jubilant Bhartia Group

Coca-Cola sells 40% stake in India bottling business to Jubilant Bhartia Group, with reports pegging the deal to be around ₹10,000 crore

Global beverages major Coca-Cola has sold 40% stake in its India bottling business Hindustan Coca-Cola Beverages Pvt Ltd (HCCBL) to Jubilant Bhartia Group.

Though the company has not disclosed the amount of the deal, some media reports have pegged it at around ₹10,000 crore.

"The Coca-Cola Company today announced that it has reached an agreement with Jubilant Bhartia Group, a multi-billion conglomerate with global presence in diverse sectors, to acquire 40% stake in Hindustan Coca-Cola Holdings Pvt Ltd, the parent company of the largest Coca-Cola bottler in India, Hindustan Coca-Cola Beverages Pvt Ltd," a joint statement said.

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.

India is the fifth largest market of Coca-Cola globally.

The Atlanta-headquartered firm is divesting bottling operations globally as part of its asset-light strategy.