Coca-Cola Beverages Africa Limited buys stakes in Kenyan bottlers

Coca-Cola Beverages Africa Limited (CCBA) has bought stakes in two Kenyan Coca-Cola franchise bottlers for Sh19.4bn (US$187m) from Centum Investment. It has acquired a 53.9% share in Almasi Beverages Limited and a 27.6% share in Nairobi Bottlers Limited (NBL).

The moves mean that Coca-Cola Sabco East Africa (CCSEA), CCBA‘s Kenyan subsidiary has become the sole shareholder in NBL. CCSEA acquired a 53.9% shareholding in Almasi Beverages Limited (ABL) and 27.6% shareholding in Nairobi Bottlers Limited (NBL) from a public East African investment company Centum Investment. It also means a successful exit for government owned Centum Investment, which has made Sh3.6bn ($34.7m) profit on the sale.

ABL was founded in 2013, after the merger of three independent Coca-Cola bottling plants: Mount Kenya Bottlers Limited, Rift Valley Bottlers Limited and Kisii Bottlers Limited. NBL was founded in 1948  and is the anchor Coca-Cola bottler in Kenya and is based next to Nairobi’s Jomo Kenyatta International Airport.