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Coca-Cola may cut stake in bottling arm; PE firms eye Indus Towers

VCCircle

VCCircle · 1y ago

Coca-Cola may cut stake in bottling arm; PE firms eye Indus Towers

Coca-Cola India is reportedly discussing the sale of a minority stake in its bottling unit, Hindustan Coca-Cola Beverages (HCCB), with four prominent Indian business families. The potential buyers include the Bhartia family of Jubilant Group and the Burmans of Dabur. Coca-Cola is looking to reduce its stake in HCCB and seek partnerships with local investors. This move comes as private equity firms show interest in investing in Indus Towers, a telecom company that recently merged with Bharti Infratel.

Related News

Grapevine: Coca-Cola gets suitors for India arm; Infra.Market picks banks for IPO

VCCircle

VCCircle · 11m ago

Grapevine: Coca-Cola gets suitors for India arm; Infra.Market picks banks for IPO

Coca-Cola's India bottling arm, Hindustan Coca-Cola Beverages (HCCB), is reportedly in talks with the Burman family of Dabur and the Bhartias, promoters of Jubilant Group, for a possible acquisition. The deal would entail the acquisition of a 40% stake in HCCB for an estimated value of Rs 10,800-12,000 crore ($1.3-1.4 billion), valuing the company at Rs 27,000-30,000 crore ($3.21-3.61 billion). The negotiations are still ongoing, and no final agreement has been reached at this stage.

Coca-Cola sells 40% stake in HCCB to Jubilant Bhartia Group | Company Business News

Livemint

Livemint · 8m ago

Coca-Cola sells 40% stake in HCCB to Jubilant Bhartia Group | Company Business News

India's Jubilant Bhartia Group is set to acquire a 40% stake in Hindustan Coca-Cola Holdings, the parent company of Hindustan Coca-Cola Beverages, the country's largest Coca-Cola bottler. The deal, valued at between INR120 billion ($1.6bn) and INR125 billion, is part of Coca-Cola's long-term strategy to find a partner with expertise in running businesses in India. The ultimate goal is to take the bottling business public. Jubilant Bhartia Group operates various businesses including contract research and development services, agricultural products and food services. The acquisition is expected to heighten competition in India's beverage packaging industry.

Mint Explainer: Inside the lucrative world of soft-drink bottling manufacturers

Livemint

Livemint · 11m ago

Mint Explainer: Inside the lucrative world of soft-drink bottling manufacturers

Coca-Cola India is considering listing its wholly owned bottling subsidiary, Hindustan Coca-Cola Beverages (HCCB). The move is seen as part of a trend among consumer giants to spin off units, optimise balance sheets, and focus on core brands and business models. Listing the bottling subsidiary would enable Coca-Cola to reduce exposure to risks associated with fluctuations in raw materials, regulatory changes, and local market conditions. It would also provide liquidity for the bottler and potentially offer tax benefits. Other multinational companies, such as Whirlpool, Timken, and BAT, are also exploring similar strategies.

Coca-Cola bottler Kandhari acquires Wave Beverages

Economic Times

Economic Times · 1m ago

Coca-Cola bottler Kandhari acquires Wave Beverages

Kandhari Global Beverages, a major Coca-Cola bottling partner in India, has acquired Wave Beverages' operations for about ₹1,000 crore. This acquisition includes Wave Beverages' territories in Punjab and Himachal Pradesh, expanding Kandhari Global’s reach in the northern and western markets. The deal follows Kandhari's earlier purchase of Coca-Cola's North Gujarat bottling operations for ₹2,000 crore, positioning Kandhari among Coca-Cola's leading independent bottling partners. Coca-Cola’s India market remains competitive despite weather-related sales challenges.

Is India new frontier for Coca-Cola? CEO leads massive delegation to nation

Livemint

Livemint · 1y ago

Is India new frontier for Coca-Cola? CEO leads massive delegation to nation

The Coca-Cola Company is sending a 220-member leadership team, led by CEO James Quincey, to India in recognition of its growing importance as a top volume growth priority market for the company. The team aims to meet with government authorities and engage with bottling partners, acknowledging their significance in capital infusion. Coca-Cola sees potential for expansion in India thanks to its young and populous demographic. The visit comes as Coca-Cola faces challenges in mature markets like the US and Europe. In December 2022, Coca-Cola India entered the domestic alcohol market with the introduction of Lemon-Dou.

Coca-Cola to build capacity in India after ‘robust’ growth in 2023

Livemint

Livemint · 1y ago

Coca-Cola to build capacity in India after ‘robust’ growth in 2023

Beverage giant Coca-Cola plans to reinvest a significant portion of its capital investment increase to expand its capacity in India and support the growth of Fairlife, its American dairy drinks brand. In addition to experiencing robust growth in India and Brazil, the company expects to generate $9.2 billion in free cash flow in 2024. Coca-Cola has been expanding its capacity in India through its bottling subsidiary, Hindustan Coca-Cola Beverages, and currently operates 54 plants across the country.

Coca-Cola joins govt-backed ONDC network; launches marketplace Coke Shop

IndianStartupNews

IndianStartupNews · 1y ago

Coca-Cola joins govt-backed ONDC network; launches marketplace Coke Shop

Beverage giant Coca-Cola India has joined India's Open Network for Digital Commerce (ONDC) and launched its marketplace, the Coke Shop. The move allows Coca-Cola to provide an additional channel for retailers to sell their products and enhance the purchasing experience. Coca-Cola's bottling partner, Moon Beverages Ltd, will facilitate access to the beverage portfolio on the platform. Coca-Cola India has partnered with SellerApp and nStore Technologies to maximize its presence on the ONDC network and leverage data-driven insights and digital growth strategies. The company aims to strengthen its market presence and offer consumers more purchasing options.

Residual funds from Voda's Indus Towers stake sale may go towards latter's dues

Livemint

Livemint · 1y ago

Residual funds from Voda's Indus Towers stake sale may go towards latter's dues

Indus Towers may receive residual funds from Vodafone's stake sale in the company. Indus has a secondary pledge on Vodafone's 21% stake, and if the sale goes through, Indus will receive the residual amount after Vodafone clears dues with primary pledgers, up to a maximum of ₹4,250 crore. Indus Towers has been collecting receivables from Vodafone Idea and is in discussions for a payment plan to clear outstanding dues. The tower provider expects to benefit from incremental tenancy business and plans to offer Vodafone Idea existing towers as second tenants.

KKR moves forward with plan to exit Indian infra portfolio firm

VCCircle

VCCircle · 1y ago

KKR moves forward with plan to exit Indian infra portfolio firm

Private equity firm KKR is proceeding with its plan to exit an Indian infrastructure portfolio company. This comes after KKR sold its stake in a telecom infrastructure provider and began the process of harvesting its investments in two other firms. Specifically, KKR unloaded its stake in telecom towers company Indus Towers.

Airtel says 'not in any discussion' to buy Vodafone UK's stake in Indus Towers

Money Control

Money Control · 1y ago

Airtel says 'not in any discussion' to buy Vodafone UK's stake in Indus Towers

Airtel has clarified that it is not in discussions to buy Vodafone UK's stake in Indus Towers. The telecom major stated that it has no desire to raise its stake beyond what is needed for financial consolidation of Indus in the company. Airtel is currently Indus' largest shareholder with a 47.95% stake. Reports had earlier suggested that Airtel was in talks to buy the 21.05% stake, potentially giving it a controlling stake in Indus Towers.

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