Coca-Cola partnership to create biggest bottler in Africa
The Coca-Cola Company Thursday announced a partnership to form its largest soft drinks bottling company in Africa, serving "high growth" countries on the continent.
The Coca-Cola company together with British drinks giant SABMiller and Gutsche Family Investment, a South Africa private firm, will join forces to form Coca-Cola Beverages Africa.
"The new bottler, Coca-Cola Beverages Africa, will serve 12 high-growth countries accounting for approximately 40 percent of all Coca-Cola beverage volumes in Africa," said a statement.
It will be majority owned by SABMiller with a 57 percent stake, Gutsche Family Investments with 31.7 percent and The Coca-Cola Company with 11.3 percent.
According to the companies, bottling operations in 12 high-growth markets in southern and east Africa had an annual revenue of $2.9 billion.
The deal is underpinned by "rising personal disposable income" and increased consumption per capita.
As part of the deal, Coca-Cola will acquire SABMiller's Appletiser soft drinks and 19 other non-alcoholic brands in Africa and Latin America for nearly $260 million.
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