Swiss-Based Coca-Cola Bottler Expands Footprint
Coca-Cola Hellenic Bottling Company plans to acquire a 75% controlling stake in Coca-Cola Beverages Africa (CCBA) for $2.6 billion from The Coca-Cola Company and Gutsche Family Investments. The transaction is expected to close in early 2026, pending regulatory approvals.
The acquisition would give the Steinhausen, Switzerland-based Coca-Cola HBC control of 36-40 bottling plants, 17,000 employees, and a network serving over 800,000 retail outlets across 14 sub-Saharan African countries. CCBA currently accounts for about 40% of Coca-Cola’s total beverage volume in Africa.
“This transaction represents a strategic acceleration of our growth agenda,” says Zoran Bogdanovic, CEO of Coca-Cola HBC. “Africa is one of the most dynamic consumer markets in the world. By integrating CCBA’s scale and local expertise, we can unlock the full potential of the Coca-Cola system across the continent.”
To cement its regional presence, Coca-Cola HBC—already listed on the London Stock Exchange—plans a secondary listing on the Johannesburg Stock Exchange. This would give African investors access to one of the world’s largest bottlers while reinforcing longterm confidence in African capital markets.
The deal, however, requires clearance from several regulatory bodies: The Competition Commission of South Africa (CCSA); the Common Market for Eastern and Southern Africa (COMESA) Competition Commission; and national agencies such as the Kenya Competition Authority and the Ethiopian Trade Competition and Consumer Protection Authority.
According to Euromonitor International, Coca-Cola holds about 29.5% of the carbonated soft drinks market in the Middle East and Africa. PepsiCo controls roughly 23.2%. With Africa’s population projected by the UN to hit 2.5 billion by 2050, the stakes are rising. “Africa is no longer an emerging story—it’s the main stage,” said Caroline Wanga, an Africa-based market analyst. “Coca-Cola HBC’s expansion cements its bet that the future of the global beverage market will be shaped in African cities.”