Coca-Cola HBC is moving decisively to expand its African footprint by acquiring a 75 % majority stake in Coca-Cola Beverages Africa (CCBA) in a deal worth $2.6 billion. The acquisition is expected to close by the end of 2026, significantly boosting HBC’s influence across the continent.
Under the terms of the agreement, Coca-Cola HBC, which is headquartered in Nigeria and already active in Egypt and other regions, will take over CCBA operations in 14 more African markets, including major ones like South Africa, Kenya, Ethiopia, and Tanzania. Once completed, HBC will handle about two-thirds of Coca-Cola’s total system volume in Africa and serve over half the continent’s population.
“This acquisition of CCBA represents a transformational step for Coca-Cola HBC, combining two strong operations and unlocking significant value through scale, efficiency, and growth opportunities,” the company said.
CCBA, with its headquarters in Johannesburg, is currently Africa’s largest Coca-Cola bottler and ranks among the top ten globally. It was formed in 2016 through the merger of several regional bottlers, and it now manages production and distribution across key African economies.
Once the acquisition is final, Coca-Cola HBC will become one of The Coca-Cola Company’s most important bottling partners, second only to Coca-Cola Europacific Partners by volume.
To support its renewed commitment to Africa, HBC also plans to pursue a secondary listing on the Johannesburg Stock Exchange (JSE) after the deal is closed, aiming to deepen local investor participation.
Africa remains one of the most promising growth frontiers for Coca-Cola, thanks to its expanding middle class and young population driving greater demand for non-alcoholic beverages.
“In 2021, global beverage giant Coca-Cola announced a $1 billion, five-year investment plan to expand its operations and strengthen its supply chain in Nigeria.” However, the company later suspended the investment, citing what it described as a challenging business environment and rising excise taxes.
Despite that, authorities note that Coca-Cola and its Nigerian bottling partner have committed $1.5 billion in investments over the past decade, underlining the firm’s long-term presence in the country.
