CCBA acquires majority stake in Swaziland Coke bottler
Coca-Cola Beverages Africa (CCBA) said it has acquired a 60% stake in Swaziland beverage firm, Eswatini Beverages Limited.
Eswatini is the new name of the country of Swaziland which officially changed its name in 2018.
The remaining 40% shares is held by Tibiyo Taka Ngwane, an Eswatini Sovereign Wealth fund with interest in telecommunications, commercial real estate, sugar, dairy, beverages, hotels, and transportation.
Under the terms of the purchase, Eswatini Beverages Limited will change its name to Eswatini Coca-Cola Beverages (ECCB) and will be a subsidiary of CCBA.
“Eswatini customers will benefit from being part of a consolidated, successful Coca-Cola eco-system that spans the continent, creating new opportunities for everyone across the value chain,” said Sanele Khumalo, country manager for ECCB.
CCBA which has its headquarters in South Africa is the 8th largest Coca-Cola bottling partner in the world by revenue and the largest on the continent. It accounts for 40% of all Coca-Cola products sold in Africa by volume. The company has operations in 13 countries including South Africa, Ghana, Ethiopia, Uganda, Kenya, Tanzania, Namibia, Mozambique, Comoros, Mayotte, Zambia, Botswana and now Eswatini.
CCBA is majorly owned by the Coca-Cola Company (TCCC), with a minority stake held by the Gutsche Family Investments, owners of South Africa-based Coca-Cola Sabco.
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