The target business comprises of Hindustan Coca-Cola Beverages’ business of preparing, packaging, supplying and distributing NAB products in north Gujarat and the Union Territory of Diu
Kandhari Global Beverages has secured the approval of the Competition Commission of India (CCI) regarding its proposed acquisition of Coca-Cola’s bottling plant, the fair trade regulator informed in a statement.
Kandhari Global Beverages is an authorised bottler of The Coca-Cola Company (TCCC) and Schweppes Holdings or SHL and is engaged in the business of supplying and distributing non-alcoholic beverage (NAB) products in Rajasthan.
In a release, the CCI stated, “The Competition Commission of India has approved the proposed acquisition of the Target Business by Kandhari Global Beverages.” The CCI added that the target business comprises of Hindustan Coca-Cola Beverages’ business of preparing, packaging, supplying and distributing NAB products in north Gujarat and the Union Territory of Diu.
While the financial details related to the acquisition are yet to be officially released, the media reports stated that the deal is pegged to be around Rs 2,000 crore, in which Coca-Cola will be transferring business to Kandhari Global Beverages, from HCCBL, its bottling arm in India.
Following the approval from the CCI, HCCBL will now be having 15 operational plants in the country, where it produces Thums Up, Coca Cola, Sprite, Kinley, Fanta and other beverages, as per the media reports.
