South Africa's Competition Tribunal granted conditional approval for Coca-Cola HBC to acquire a majority stake in Coca-Cola Beverages Africa (CCBA). Coca-Cola HBC will purchase a 75% stake from The Coca-Cola Company and Gutsche Family Investments. The transaction is valued at $2.6 billion. The parties originally announced the deal in October 2025.
The acquisition expands Coca-Cola HBC’s footprint into 14 new markets, including South Africa and Kenya. Post-transaction operations will cover more than half of the continent's population. The deal represents two-thirds of the total Coca-Cola system volume in Africa.
This move supports The Coca-Cola Company’s long-term, asset-light strategy. The company continues refranchising its bottling operations to established regional partners.