Coca-Cola sells stake in Jharkhand bottling factory to franchisee partner Moon Beverages
Ranchi: Hindustan Coca-Cola Beverages (HCCB), a subsidiary of Coca-Cola Company, has transferred its Jharkhand bottling operations to Moon Beverages Pvt Ltd, aligning with Coca-Cola’s global strategy of asset-light operations, The Economic Times reported.
Moon Beverages, owned by Sanjeev Agrawal's MMG Group, manages bottling in Delhi, parts of Uttar Pradesh, the Northeast, and West Bengal, and also runs McDonald's in North and East India.
"This business transfer marks a significant decision for HCCB," Juan Pablo Rodriguez, CEO of HCCB India was quoted as saying by the Economic Times. "It ensures the right level of investments can be undertaken in all parts of the business, while bringing both scale and contiguity."
Earlier this year, HCCB similarly divested bottling operations in other regions to franchisees like Moon Beverages, SLMG Beverages, and Kandhari Global Beverages.
HCCB serves over 23 lakh retailers and operates 13 factories producing beverages like Coca-Cola, Thums Up, Sprite, and Limca, apart from juices, water, and soda products.
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