Coca-Cola (NYSE:KO) has entered into an agreement with the Jubilant Bhartia Group to sell a 40% stake in Hindustan Coca-Cola Holdings Pvt Ltd, the parent company of Hindustan Coca-Cola Beverages Pvt Ltd (HCCBL), which is the largest Coca-Cola bottler in India.
This strategic divestment is in line with Coca-Cola's global strategy of adopting an asset-light approach by offloading bottling operations. The investment by Jubilant Bhartia Group, a conglomerate with a significant global footprint across various sectors, marks a pivotal moment for Coca-Cola's operations in India, which ranks as the company's fifth-largest market worldwide.
Sanket Ray, President of Coca-Cola India, expressed optimism about the partnership, stating, "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.”
The CEO of Hindustan Coca-Cola Beverages, Juan Pablo Rodriguez, also remarked on the significance of the investment, highlighting Jubilant Bhartia Group's expertise as complementary to the company's strengths. Rodriguez emphasized the goal of delivering exceptional value to stakeholders while fostering innovation and sustainable progress.
The joint statement from the companies underscored the importance of this move as Coca-Cola continues to strive towards its mission of refreshing the world and making a meaningful impact.
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