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

Global beverages major Coca-Cola has sold 40 per cent stake in its India bottling business Hindustan Coca-Cola Beverages Pvt Ltd (HCCBL) to Jubilant Bhartia Group. Morgan Stanley was the exclusive financial advisor to the deal, the group added.

The investment "aligns with our strategic intent to expand and diversify into high-growth industries," Hari S. Bhartia, the group's founder and co-chairman said in a statement. Though the company has not disclosed the amount of the deal, some media reports have pegged it at around Rs 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 per cent 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, the statement said.