Hindustan Coca-Cola Beverages Ltd (HCCB), a bottling arm of India, has sold its bottling business in North Gujarat to Kandhari Global Beverages Private Limited for around 2000 crores.
In an official statement, the company said: “We have agreed to transfer the North Gujarat bottling business currently operated by Hindustan Coca-Cola Beverages Pvt. Ltd (HCCB).” The statement further stated that the North Gujarat business will be owned and operated by Kandhari Global Beverages Private Limited, subject to regulatory approval.
“This relocation will ensure that all parts of the business have the right level of investments implemented, bringing both scale and adjacency to the business,” HCCB added.
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Previous sale
As part of its asset lighting strategy, HCCB previously sold it to independent bottlers in Rajasthan, Bihar and parts of West Bengal, as well as in the northeastern states of Rajasthan and Bihar during fiscal year 2024.
In its regulatory submission, the HCCB said it has “synerized, restructured and consolidated” its operations in the eastern and central states of India by selling some of its bottling businesses in Rajasthan, West Bengal, Bihar and the northeastern states. Additionally, the company invested 1,963 crore in fiscal 2024 to expand its manufacturing capacity across India.
HCCB reported an increase in net profit from 2,808.3 crores up to 2,808.3 crores, from 812.5 crores in fiscal 2023, according to data from Tofler, the market intelligence platform. Consolidated revenue from the business was £1,4021.54, an increase of 10.10% in 2024.
