Coca-Cola sells 40% stake in bottling arm HCCBL to Jubilant Indian group

NEW DELHI New Delhi: Global beverage major Coca-Cola has sold a 40 per cent stake in its Indian bottling business Hindustan Coca-Cola Beverages Private Limited (HCCBL) to Jubilant Indian Group.While the company did not disclose the deal amount, some media reports put it at around ₹10,000 crore.

“The Coca-Cola Company today announced that it has entered into an agreement with Jubilant Indian Group to acquire a 40 per cent stake in Hindustan Coca-Cola Holdings Private Limited, a multi-billion dollar conglomerate with a global presence across diversified sectors,” a joint statement said. It is the parent company of Hindustan Coca-Cola Beverages Private Limited, Coca-Cola’s largest bottling company in India.These transformations and investments mark an important milestone for Coca-Cola as the company pursues its purpose to refresh and transform the world, the statement said.

Commenting on the development, Coca-Cola India President Sanket Ray said: “We welcome Jubilant Indian Group to the Coca-Cola system in India. With its diverse experience across sectors, Jubilant brings decades of rich experience that will help accelerate the Coca-Cola system, enabling us to win in the market and deliver greater value to local communities and consumers.”

India is Coca-Cola’s fifth largest market globally.The Atlanta-headquartered firm is selling its bottling operations globally as part of its asset-light strategy. Hindustan Coca-Cola Beverages CEO Juan Pablo Rodriguez said, “This strategic investment is an important milestone in our journey. Jubilant Indian Group’s expertise, complementing our strengths, ensures that we continue to deliver exceptional value to our stakeholders while driving innovation and sustainable growth.”