Global beverages company Coca-Cola has sold 40 percent stake in its bottling business unit Hindustan Coca-Cola Beverages Pvt Ltd (HCCBL) to Jubilant Bhartia Group. According to this PTI news, Coca-Cola has not disclosed the amount of this deal. Well, it is discussed that this deal is worth around Rs 10,000 crore. Coca-Cola is the parent company of Hindustan Coca-Cola Beverages Pvt. Ltd., the largest bottling company in India.
Coca-Cola system will gain momentum
According to the news, the statement said that this change and investment is an important milestone for Coca-Cola, as the company pursues its purpose of refreshing and transforming the world. Sanket Ray, President, Coca-Cola India, said, “We welcome the jubilant Bhartia Group to the Coca-Cola system in India. He said that with its diverse experience in different sectors, Jubilant brings decades of rich experience. This will help accelerate the Coca-Cola system, allowing us to win in the market and deliver greater value to local communities and consumers.
India is the fifth largest market for the company
Let us tell you, India is the fifth largest market of Coca-Cola globally. The Atlanta-based firm is selling bottling operations globally as part of its asset-light strategy. Juan Pablo Rodriguez, CEO, Hindustan Coca-Cola Beverages, said this strategic investment is an important milestone in our journey. The expertise of the jubilant Bhartia Group, complementing our strengths, ensures that we continue to deliver exceptional value to our stakeholders by driving innovation and consistent progress.
Coca-Cola India’s integrated profit declined
Coca-Cola India’s integrated profit declined by 41.82 per cent to Rs 420.29 crore in FY24, while the company’s revenue increased by 4.24 per cent to Rs 4,713.38 crore, according to the company’s filing with the ROC (Registrar of Companies). The Coca-Cola Company is an American multinational corporation established in the year 1892. It manufactures, sells and markets soft drinks, including Coca-Cola, other non-alcohol beverage concentrates and syrups, and alcoholic beverages.
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