CCBA, Africa’s Largest Coca-Cola Bottler, to be
Listed as Standalone Business
The Coca-Cola Company and Coca-Cola Beverages Africa (CCBA)
today announced plans to list CCBA as a publicly traded
company.
The Coca-Cola Company intends to sell a portion of its
shareholding in CCBA via an initial public offering. The decision
is in line with The Coca-Cola Company’s objective of focusing its
resources on building consumer-loved brands and innovation.
The companies intend for an IPO within the next 18 months. The
exact timing will be driven by a number of factors, including
macroeconomic conditions. Shares will be listed in Amsterdam and
Johannesburg, with Amsterdam being the primary exchange.
The IPO will allow CCBA to operate as an independent,
Africa-focused, South African-headquartered, managed and domiciled
business. The plans underscore The Coca-Cola Company’s continued
and long-term belief and commitment to the African continent and
the leadership of CCBA from South Africa.
“The Coca-Cola Company sees Africa as a key growth market and
views a separate listing of CCBA as an opportunity to deliver a
broad, supportive, long-term investor base for the ongoing
development of the business,” said Bruno Pietracci, president of
the Africa operating unit of The Coca-Cola Company.
“A standalone listing for CCBA will enable the bottler to build
on its growth trajectory and access capital independently to meet
the investment needs of the business, which is great for
stakeholders across Africa,” said Jacques Vermeulen, CEO of
CCBA.
The Coca-Cola Company has retained Rothschild & Co. to
advise on the IPO.
About The Coca-Cola
Company
The Coca-Cola Company (NYSE: KO) is a total beverage company
with products sold in more than 200 countries and territories. Our
company’s purpose is to refresh the world and make a difference. We
sell multiple billion-dollar brands across several beverage
categories worldwide. Our portfolio of sparkling soft drink brands
includes Coca-Cola, Sprite and Fanta. Our hydration, sports, coffee
and tea brands include Dasani, smartwater, vitaminwater, Topo
Chico, Powerade, Costa, Georgia, Gold Peak, Honest and Ayataka. Our
nutrition, juice, dairy and plant-based beverage brands include
Minute Maid, Simply, innocent, Del Valle, fairlife and AdeS. We’re
constantly transforming our portfolio, from reducing sugar in our
drinks to bringing innovative new products to market. We seek to
positively impact people’s lives, communities and the planet
through water replenishment, packaging recycling, sustainable
sourcing practices and carbon emissions reductions across our value
chain. Together with our bottling partners, we employ more than
700,000 people, helping bring economic opportunity to local
communities worldwide. Learn more at www.coca-colacompany.com and
follow us on Twitter, Instagram, Facebook and LinkedIn.
About Coca-Cola Beverages
Africa
CCBA is the 8th largest Coca-Cola bottling partner in the world
by revenue, and the largest on the continent. It accounts for 40
percent of all Coca-Cola products sold in Africa by volume. With
over 16,000 employees in Africa, CCBA services millions of
customers with a host of international and local brands. The group
was formed in July 2016 after the successful combination of the
Southern and East Africa bottling operations of the non-alcoholic
ready-to-drink beverages businesses of The Coca-Cola Company,
SABMiller plc and Gutsche Family Investments. CCBA shareholders are
currently: The Coca-Cola Company 66.5% and Gutsche Family
Investments 33.5%. CCBA’s African footprint now encompasses South
Africa, Ghana, Ethiopia, Uganda, Kenya, Tanzania, Namibia,
Mozambique, Comoros, Mayotte, Zambia, Botswana, Eswatini and
Lesotho.
This announcement is not an offer to sell or a solicitation of
any offer to buy any securities to be issued by CCBA in any
jurisdiction, including the United States. The securities of CCBA
have not been and will not be registered under the U.S. Securities
Act of 1933, as amended (the “Securities Act”) and may not be
offered absent registration or an exemption from registration.
There will be no public offering of the securities in the United
States.
Forward-looking
statements
This press release may contain statements, estimates or
projections that constitute “forward-looking statements” as defined
under U.S. federal securities laws. Generally, the words “believe,”
“expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and
similar expressions identify forward-looking statements, which
generally are not historical in nature. Forward-looking statements
are subject to certain risks and uncertainties that could cause The
Coca-Cola Company’s actual results to differ materially from its
historical experience and our present expectations or projections.
These risks include, but are not limited to, our ability to realize
the anticipated benefits from the potential initial public offering
of Coca-Cola Beverages Africa, including whether such initial
public offering will be completed on the anticipated timeline, if
at all, and other risks discussed in our filings with the
Securities and Exchange Commission (the “SEC”), including our
Annual Report on Form 10-K for the year ended December 31, 2020 and
our subsequently filed reports, which filings are available from
the SEC. You should not place undue reliance on forward-looking
statements, which speak only as of the date they are made. We
undertake no obligation to publicly update or revise any
forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210419005087/en/
Investors and Analysts: Tim
Leveridge, koinvestorrelations@coca-cola.com Media for The Coca-Cola Company: Scott Leith,
sleith@coca-cola.com, or Patricia Obozuwa, pobozuwa@coca-cola.com
Media for Coca-Cola Beverages Africa:
Wendy Thole-Muir, wthole-muir@ccbagroup.com
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