Coca-Cola HBC has cleared a major regulatory hurdle to take control of Coca-Cola Beverages Africa (CCBA), a deal that will give the bottler access to a business representing about two-thirds of Coca-Cola system volumes in Africa.

The Competition Tribunal approved the transaction subject to conditions addressing public-interest concerns, although the specific conditions were not disclosed. The approval brings Coca-Cola HBC closer to completing its planned acquisition of a 75% stake in CCBA, with an option to purchase the remaining 25% within six years.

The deal, first announced in 2025, would significantly expand Coca-Cola HBC’s African footprint and strengthen its position as one of the world’s largest Coca-Cola bottlers. The company is headquartered in Switzerland but was founded in Nigeria.

South Africa investment adds to deal’s impact

The merger comes alongside plans for a major expansion of Coca-Cola’s bottling operations in South Africa, valued at R17.6 billion ($1.09 billion).

The programme was the largest fixed-investment project announced in South Africa during the first half of 2026, adding an investment dimension to a transaction that is also expected to reshape Coca-Cola’s bottling presence across the continent.

Coca-Cola HBC said in 2025 that it planned a secondary listing on the Johannesburg Stock Exchange, describing the move as a commitment to South Africa and Africa.

The approval followed hearings involving the merging companies and representatives of the National Union of Food, Beverage, Wine, Spirit and Allied Workers, reflecting concerns around the merger’s potential impact on workers and the broader public interest.

CCBA deal reshapes Coca-Cola’s African bottling network

CCBA was created in 2015 through a merger involving The Coca-Cola Company, SABMiller and Gutsche Family Investments, and began operating as a separate legal entity in July 2016.

Today, The Coca-Cola Company owns 66.5% of CCBA, while Gutsche Family Investments holds the remaining stake.

Its South African subsidiary, Coca-Cola Beverages South Africa (CCBSA), previously faced plans that could have affected up to 680 jobs amid reported financial constraints and a proposed restructuring.

For Coca-Cola HBC, the transaction represents a much larger African operating platform at a time when the company is seeking to deepen its presence across the continent.

The combined business will be authorised to bottle Coca-Cola products across markets spanning Europe, Eurasia and Africa.