Jubilant FoodWorks Limited has addressed recent media reports suggesting its involvement in the acquisition of a 40% stake in Hindustan Coca-Cola Holdings Private Limited (HCCH). The company clarified that it is not part of this acquisition, which was announced by the Jubilant Bhartia Group through its entity Jubilant Beverages Limited on December 11, 2024.
In its statement, Jubilant FoodWorks reiterated that no disclosure is required under SEBI regulations as it is not involved in the proposed acquisition. The company also emphasized its commitment to keeping exchanges informed of any material developments related to its operations.
Background on the Coca-Cola Bottler Acquisition
The Jubilant Bhartia Group, which operates India’s largest food services business, has announced plans to acquire a 40% stake in HCCH, the parent company of Hindustan Coca-Cola Beverages Pvt. Ltd (HCCB). The transaction is valued between ₹12,000 crore and ₹12,500 crore.
HCCB is Coca-Cola’s largest bottler in India, operating 13 factories and catering to 236 districts across 12 states in the south and west of the country. The bottler handles iconic brands such as Thums-Up, Sprite, Fanta, Limca, and Coca-Cola.
The acquisition will be executed through Jubilant Beverages Ltd., with Goldman Sachs financing part of the deal. A source familiar with the matter indicated that Coca-Cola’s aim is to partner with a reputable Indian business for long-term operations, with the ultimate goal of taking the bottling business public.
Jubilant FoodWorks’ Clarifications
In response to specific queries from stock exchanges, Jubilant FoodWorks noted:
- It is not part of the negotiations or events surrounding the acquisition.
- It is unaware of any undisclosed information impacting its trading activity.
- The acquisition has no material impact on the company’s financial or operational standing.
Jubilant FoodWorks reaffirmed its adherence to regulatory compliance and stated that it will inform the exchanges of any relevant developments in the future.
