Coca-Cola Icecek to acquire Coca-Cola Bangladesh Beverages for US$130 Million 

BANGLADESH – Turkish beverage giant Coca-Cola Icecek (CCI) has signed a deal to acquire Coca-Cola Bangladesh Beverages Ltd (CCBB) for $130 million.  

The transaction, announced in a recent statement by CCI, involves the acquisition of 100 percent of CCBB’s shares. 

CCI revealed that the net purchase price of US$130 million will account for CCBB’s estimated financial debt, with a post-closing price adjustment mechanism in place to determine the exact debt amount upon completion of the closing audit.  

The acquisition will be financed by CCI International Holland BV (CCIHBV), a wholly-owned subsidiary of CCI, using its existing cash resources. The impact on CCI’s net leverage is expected to be modest. 

The deal awaits regulatory approval in Dhaka and is expected to be finalized thereafter. CCIHBV will serve as the main shareholder of CCBB following the acquisition. 

CCBB, established in 2017 in Bhaluka, Mymensingh, by International Beverages Private Ltd (IBPL), a subsidiary of The Coca-Cola Company, is one of two bottlers producing, selling, and distributing Coca-Cola brands in Bangladesh.  

The other bottler, Abdul Monem Ltd, competes alongside CCBB in catering to Bangladesh’s growing non-alcoholic ready-to-drink (NARTD) market. 

Speaking on the acquisition, CCI CEO Karim Yahi stated, “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.” 

Bangladesh’s NARTD market has demonstrated robust growth, recording a 10 percent compound annual growth rate from 2019 to 2022.  

The market, valued at over Tk 4,000 crore, is dominated by Coca-Cola and PepsiCo, alongside local players such as Pran, Akij, and Partex.  

According to CCI, the market is projected to grow at an annual average rate of 12 percent through 2032. 

CCI, which operates in 11 countries and manufactures, distributes, and sells Coca-Cola brands, sees the acquisition as a strategic move to diversify its geographical footprint and strengthen its alignment with The Coca-Cola Company. 

In the past five years, CCBB has gained a competitive edge, capturing a 45.3 percent market share in Bangladesh’s soft drinks category by 2023.  

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