Turkish bottler Coca-Cola Icecek (CCI) and its subsidiary CCI International Holland have announced the signing of an agreement to acquire peer Coca-Cola Bangladesh Beverages (CCBB) for $130 million.
Established in 2009, CCBB is described as being involved in the production, sale, and distribution of Coca-Cola’s sparkling and still brands in Bangladesh. The firm has over 300 employees, one bottling plant, and three main warehouses.
Commenting on the move, CCI CEO Karim Yahi 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”, he added.
The proposed acquisition is subject to regulatory approval in Dhaka.
Source: FoodBev / The Financial Express / CCI
