Coca-Cola HBC AG has announced plans to acquire a 75% shareholding in Coca-Cola Beverages Africa (CCBA) from The Coca-Cola Company and Gutsche Family Investments for a combined purchase price of US$2.6 billion. The deal values CCBA at around US$3.4 billion.

The transaction will be financed through a new bridge facility covering the cash consideration, alongside newly issued Coca-Cola HBC shares representing 5.47% of its enlarged share capital. 

An option agreement will also allow Coca-Cola HBC to acquire the remaining 25% stake in CCBA still owned by The Coca-Cola Company at a later date.

Anastassis G. David, Chairman of Coca-Cola HBC, described the deal as “a historic moment” that reinforces the company’s long-term commitment to Africa. 

“We look forward to accelerating this positive momentum with CCBA to deliver lasting value for our stakeholders,” he said.

CEO Zoran Bogdanovic added that the acquisition offers “a path to full ownership” and builds on Coca-Cola HBC’s extensive experience in Africa, including operations in Nigeria and Egypt. 

“With our capabilities, commercial expertise and strong sustainability focus, we believe we have the winning formula to drive growth and create value for all stakeholders,” he said.