New Delhi: In a significant development, Coca-Cola Co. has sold a 40% stake in Hindustan Coca-Cola Holdings Pvt Ltd (HCCBL) to the Jubilant Bhartia Group. This move marks a key milestone for Coca-Cola as it continues to reshape its operations globally.

HCCBL is the parent entity of Hindustan Coca-Cola Beverages Pvt Ltd, the largest bottling arm of Coca-Cola in India. The deal, reported by PTI, is estimated to be worth approximately ₹10,000 crore, although the exact financial details have not been disclosed, as per news reports. 

Coca-Cola India's President Sanket Ray highlighted the importance of this partnership, and was quoted in news reports as saying, “We welcome Jubilant Bhartia Group to the Coca-Cola system in India. Their diverse expertise will help us accelerate growth, win in the market, and deliver greater value to local communities and consumers.”

Juan Pablo Rodriguez, CEO of Hindustan Coca-Cola Beverages, was quoted as saying in news reports, “This strategic investment represents an important milestone in our journey. Jubilant Bhartia Group’s strengths complement ours, enabling us to drive innovation and sustainable progress while delivering exceptional value to our stakeholders.”

The deal aligns with Coca-Cola’s global asset-light strategy, wherein the company has been reducing its stake in bottling operations worldwide. India remains a key market, being the fifth-largest globally for Coca-Cola.

The Jubilant Bhartia Group, a multi-billion-dollar conglomerate with a presence in sectors like pharmaceuticals, food, and energy, will bring its decades of experience to strengthen Coca-Cola’s bottling operations in India.

This development underscores Coca-Cola’s continued commitment to refreshing the world while adapting its business strategies to foster innovation, sustainability, and local engagement. 

BI Bureau