Hindustan Coca-Cola Beverages Ltd (HCCB), the bottling arm of Coca-Cola India has declared the sale of its North Gujarat bottling operations to Kandhari Global Beverages Private Limited for nearly ₹2000 crore.
This is a part of Coca-Cola's ongoing effort to implement its asset-light business model and smoothly run its operations in India.
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Coca-Cola’s stake reduces
Coca-Cola’s stake in HCCB is now lowered to 40 per cent following a previous sale of a 40 per cent stake to the Jubilant Bhartia Group in December 2024 for around Rs 12,500 crore (USD 1.47 billion).
After the deal, the company’s bottling operations are divided among HCCB, which oversees 15 manufacturing plants, and 10 independent franchise partners.
Earlier, the soft drink giant’s global earnings statement revealed that it earned USD 303 million from re-franchising bottling operations in India in 2024.
This deal follows previous re-franchising moves in Rajasthan, Bihar, West Bengal, and the Northeast last year to local bottling partners such as Moon Beverages, Kandhari Global, and SLMG Beverages. [Source: Business World]
Furthermore, the company declared HCCB’s investment of Rs 3,000 crore into manufacturing in Gujarat in 2023, building its presence in the region even though its share of the bottling business was reduced.
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