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April 20, 2021

The Coca-Cola Co adds colour to Coca-Cola Beverages Africa IPO decision

The Coca-Cola Co has added details to yesterday's confirmation of its plan to launch an IPO for its bottler unit in Africa.

By Jason Ingle

The Coca-Cola Co has added details to yesterday’s confirmation of its plan to launch an IPO for its bottler unit in Africa.

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Coinciding with the release of results for the first quarter, Coca-Cola said yesterday that it intends to list part of its holding in Coca-Cola Beverages Africa. In a separate statement, the group did not provide details of how much of its 66.5% stake will go towards the IPO, but that the move would occur “within the next 18 months” with shares to be listed in Amsterdam and Johannesburg.

The move forms part of Coca-Cola’s strategy to concentrate more on brand-building and innovation.

“The Coca-Cola Co sees Africa as a key growth market and views a separate listing of CCBA as an opportunity to deliver a broad, supportive, long-term investor base for the ongoing development of the business,” said group president for Africa, Bruno Pietracci.

CCBA commenced operations in mid-2016 as a joint venture between Coca-Cola, Coca-Cola Sabco and SABMiller. The subsequent takeover of SAB by Anheuser-Busch InBev resulted in Coca-Cola exercising its put option later in the year. The soft drinks giant went so far as to explore a sale of its stake two years ago, but decided to retain control after negotiations failed to secure a buyer.

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Free Whitepaper
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Understand the impact of decreasing sugar consumption on the F&B market

Growing consumer concern regarding health and wellbeing has increased the focus on reducing sugar consumption. This has driven food and beverage manufacturers, alongside governments, to take measures to meet this challenge. In addition, the pandemic heightened the focus on self-care, including implementing healthy eating to support the immune system. Now more than ever, consumers are paying attention to the amount of sugar and calories in the products they purchase. Access GlobalData’s new whitepaper, The Sugar Reduction Challenge – Past, Present and Future Outlooks within Beverages, to better understand the recent trends in sugar demand, how manufacturers and governments have responded to the challenge, and what solutions are available to the industry. The white paper covers:
  • The key factors behind the recent trends in sugar consumption
  • What is driving consumer choices when shopping for food and beverages?
  • How companies and governments are stepping up their efforts to meet consumers’ expectations
  • The outlook for sugar demand
  • Which ingredients stand to benefit from these future developments?
Enter your details here to receive the free whitepaper.
by GlobalData
Enter your details here to receive your free Whitepaper.

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