Coca-Cola Beverages Africa (CCBA), the leading Coca-Cola bottler on the African continent, is taking a 60% stake in Eswatini Beverages, a soft drinks firm based in Eswatini (formerly Swaziland), according to a report in Food Business Africa.
The firm will remain 40% owned by a sovereign wealth fund but will reportedly operate as a subsidiary of CCBA under the name Eswatini Coca-Cola Beverages (ECCB).
Commenting on the deal, ECCB country manager Sanele Khumalo said: “Eswatini customers will benefit from being part of a consolidated, successful Coca-Cola ecosystem that spans the continent, creating new opportunities for everyone across the value chain”.
“Expanding our African footprint brings huge benefits to local consumers and businesses”, he added. “By leveraging scale, we can do more for our customers and also drive our sustainability goals. The creation of ECCB is another milestone in that strategy”.
Source: Food Business Africa