The reports noted that the transaction will help Kandhari Global to take over Wave Beverages’ bottling operations in parts of Punjab and Himachal Pradesh
Kandhari Global Beverages, one of the top bottling partners of Coca-Cola, has acquired Wave Beverages’ bottling operations for Coca-Cola, as per media reports. The deal is valued at around Rs 1,000 crore.
The reports noted that the transaction will help Kandhari Global to take over Wave Beverages’ bottling operations in parts of Punjab and Himachal Pradesh, as the company is expanding its functions in western and northern areas.
Earlier, Kandhari Global bought Coca-Cola’s north Gujarat bottling operations for Rs 2,000 crore, as per the reports. In a release, the Competition Commission of India (CCI) approved the proposed acquisition of the target business by Kandhari Global Beverages. The CCI added that the target business comprises Hindustan Coca-Cola Beverages’ business of preparing, packaging, supplying and distributing NAB products in north Gujarat and the Union Territory of Diu.
In a separate development earlier, Jubilant FoodWorks (JFL) signed a memorandum of understanding (MoU) with the beverages major Coca-Cola, the company informed in a regulatory filing. In addition, JFL will also conduct marketing activities for ‘sparkling beverage products and certain other products’ of Coca-Cola. This move follows the decision of JFL’s parent company, Jubilant Bhartia Group, to acquire a 40 per cent stake in Hindustan Coca-Cola Beverages.
The reports noted that Kandhari Global already has bottling operations in Jammu & Kashmir, Haryana, Himachal Pradesh, Rajasthan, North Gujarat, most of Punjab and parts of Delhi.
