ATLANTA, June 14, 2022 – The Coca-Cola Company announced today that it is delaying plans to list Coca-Cola Beverages Africa (CCBA) as a publicly traded company.
In April 2021, The Coca-Cola Company first disclosed its intention to sell a portion of its shareholding in CCBA via an initial public offering. The decision is in line with The Coca-Cola Company’s objective of focusing its resources on building consumer-loved brands and innovation.
The announcement said the exact timing would be driven by a number of factors, including macroeconomic conditions.
The Coca-Cola Company will continue to evaluate macroeconomic conditions in deciding future timing for an IPO in 2023. Plans to have an Africa-focused bottler traded as an independent public company remain unchanged.
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is a total beverage company with products sold in more than 200 countries and territories. Our company’s purpose is to refresh the world and make a difference. We sell multiple billion-dollar brands across several beverage categories worldwide. Our portfolio of sparkling soft drink brands includes Coca-Cola, Sprite and Fanta. Our hydration, sports, coffee and tea brands include Dasani, smartwater, vitaminwater, Topo Chico, BODYARMOR, Powerade, Costa, Georgia, Gold Peak and Ayataka. Our nutrition, juice, dairy and plant-based beverage brands include Minute Maid, Simply, innocent, Del Valle, fairlife and AdeS. We’re constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We seek to positively impact people’s lives, communities and the planet through water replenishment, packaging recycling, sustainable sourcing practices and carbon emissions reductions across our value chain. Together with our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide. Learn more at www.coca-colacompany.com and follow us on Twitter, Instagram, Facebook and LinkedIn.
About Coca-Cola Beverages Africa
CCBA is the 8th largest Coca-Cola bottling partner in the world by revenue, and the largest on the continent. It accounts for over 40% of all Coca-Cola products sold in Africa by volume. With over 17,000 employees in Africa, CCBA services more than 600,000 customers with a host of international and local brands. The group was formed in July 2016 after the successful combination of the southern and east Africa bottling operations of the non-alcoholic ready-to-drink beverages businesses of The Coca-Cola Company, SABMiller plc and Gutsche Family Investments. CCBA shareholders are currently: The Coca-Cola Company 66.5% and Gutsche Family Investments 33.5%. CCBA operates in 14 countries, including its six key markets of South Africa, Kenya, Ethiopia, Uganda, Mozambique and Namibia, as well as Tanzania, Botswana, Ghana, Zambia, the islands of Comoros and Mayotte, Eswatini and Lesotho. Learn more at https://www.ccbagroup.com and follow us on LinkedIn.