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Turkey's Coca-Cola Içecek buys Bangladesh bottler for $130m
FoodBev Media

FoodBev Media

19 February 2024

Turkey's Coca-Cola Içecek buys Bangladesh bottler for $130m

Turkish beverage company Coca-Cola İçecek, alongside its subsidiary CCI International Holland, is set to fully acquire Coca-Cola Bangladesh Beverages (CCBB) for $130 million. CCI will be the main direct shareholder of this acquisition. Founded in 2009, CCBB is one of the two companies engaged in the production, sale and distribution of Coca-Cola's sparkling and still brands in Bangladesh. It serves approximately 100 million consumers in Bangladesh's Rangpur, Raj Shahi, Mymensingh and Dhaka regions. Coca-Cola said that the acquisition will be financed using the existing cash resources of CCI International Holland, and it is expected to have a "modest impact" on Coca-Cola İçecek's net leverage. Karim Yahi, CEO of CCI, said, “We are very pleased to sign the share purchase agreement to acquire CCBB, which we see as a great opportunity to enter a market with significant future potential, where growth and value can be generated by deploying CCI’s core capabilities". "This acquisition also creates a more diverse geographical footprint for CCI and solidifies its alignment with The Coca-Cola Company.”

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