Coca-Cola HBC buys control of Africa bottling business for $2.6 billion in expansion drive

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 Swiss-based bottler Coca-Cola HBC on Tuesday said it has agreed to buy a 75% stake in its African counterpart for $2.6 billion, creating the world’s second-largest Coca-Cola bottling partner by beverage volume.

Coca-Cola HBC will acquire U.S.-based Coca-Cola’s (KO.N), opens new tab roughly 42% stake in Coca-Cola Beverages Africa (CCBA) and the Gutsche Family Investments’ entire stake, valuing the African bottler at $3.4 billion, according to company statements.