Coca-Cola Sells 40% Stake in India Bottling to Jubilant Bhartia

New Delhi, Dec 11 (PTI) 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.

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.

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

India is the fifth largest market of Coca-Cola globally.

The Atlanta-headquartered firm is divesting bottling operations globally as part of its asset-light strategy.

”This strategic investment represents an important milestone in our journey. Jubilant Bhartia Group's expertise, complements our strengths, ensuring that we continue delivering exceptional value to our stakeholders while driving innovation and sustainable progress,” Hindustan Coca-Cola Beverages CEO Juan Pablo Rodriguez said.