The Coca-Cola Company will exercise its rights to acquire the majority of Africa's biggest Coke drinks bottler Coca-Cola Beverages Africa (CCBA), the company said on Monday. After AB InBev’s takeover of SABMiller a change-of control clause permits Coca Cola to buy SABMiller's 57% stake which will add to Coke’s current 11.3 %. The remaining stake is in the hands of Gutsche Family Investments, a majority shareholder in Coca-Cola Sabco.
CCBA has more than 30 bottling plants, over 14 000 employees and a pro-forma annual revenue of US$2.9-billion.
It was formed in 2014 from the merger of The Coca-Cola Company, SABMiller and Gutsche Family Investments bottling operations in 12 markets across Southern and East Africa. The merger was approved in May 2016 by the South African Competition Tribunal.
Analysts previously to SABMiller’s takeover said the pact with Coca-Cola would present a potential burden for AB InBev should it seek to acquire SABMiller.