Global beverage giant Coca-Cola has sold a 40% stake in its India bottling arm, Hindustan Coca-Cola Beverages Pvt Ltd (HCCBL), to the Jubilant Bhartia Group.
While the financial details of the deal have not been disclosed, media reports estimate the transaction to be 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.
“This deal marks a significant milestone in Coca-Cola’s journey as we continue to pursue our mission of refreshing the world and making a difference,” the company said.
Sanket Ray, President of Coca-Cola India, emphasized that Jubilant Bhartia Group’s broad experience across sectors would be instrumental in accelerating the Coca-Cola system in India. “Their expertise will help us win in the market and provide greater value to local communities and consumers.”
India is the fifth-largest market for Coca-Cola globally. The company has been gradually divesting its bottling operations worldwide as part of its asset-light strategy. In India, Coca-Cola had already franchised its bottling operations in key regions like Rajasthan, Bihar, Northeast India, and parts of West Bengal to existing bottlers.
HCCBL’s CEO, Juan Pablo Rodriguez, described the partnership with Jubilant Bhartia Group as a strategic investment that would drive innovation and ensure continued value delivery to stakeholders. “This collaboration will help us push forward with our growth ambitions and sustainable progress,” he said.
Jubilant Bhartia Group’s founders, Shyam S Bhartia and Hari S Bhartia, stated that the investment was a perfect fit for their business. “Together, we will capitalize on new opportunities to grow the business and make Coca-Cola’s iconic brands more accessible to consumers across India,” the statement read.
Coca-Cola operates in India through two main entities: Coca-Cola India, responsible for branding and marketing, and HCCBL, which handles bottling and distribution.
