The Competition Tribunal has approved the merger between Coca-Cola HBC and Coca-Cola Beverages Africa (CCBA), subject to conditions aimed at protecting the public interest.
The merger was first announced in 2025. Under the deal, Coca-Cola HBC will buy a 75% stake in CCBA, with an option to purchase the remaining 25% within six years.
CCBA was established in 2015 through a merger involving The Coca-Cola Company, SABMiller and Gutsche Family Investments. It began operating as a separate legal entity in July 2016.
CCBA is currently owned by The Coca-Cola Company, which holds a 66.5% stake, while Gutsche Family Investments owns the remaining shares.
The Competition Tribunal’s decision follows hearings involving the two companies and the National Union of Food, Beverage, Wine, Spirit and Allied Workers. The tribunal said the merger was approved with conditions to address public-interest concerns, although the specific conditions have not yet been announced.
The deal is expected to strengthen Coca-Cola HBC’s presence across Africa. The company has also announced plans for a secondary listing on the Johannesburg Stock Exchange.
The merger comes after concerns in 2025 that Coca-Cola Beverages South Africa could retrench up to 680 workers as part of a restructuring process.
Meanwhile, Coca-Cola plans to invest about R17.6 billion in expanding its bottling operations in South Africa. The investment was the largest fixed-investment project announced in the country during the first half of 2026.
