Turkish beverage company Coca-Cola Icecek (CCI) has completed the acquisition of Coca-Cola Bangladesh Beverages Ltd (CCBB) for $130 million, marking its direct and indirect ownership of a 100 percent stake in CCBB. Established in 2017, CCBB was originally founded by International Beverages Private Ltd (IBPL), a subsidiary of The Coca-Cola Company, for bottling and distributing Coke products in specific regions of Bangladesh. With the acquisition, CCI now serves approximately 10 crore consumers across regions including Rangpur, Rajshahi, Mymensingh, and Dhaka, operating with over 300 employees, one bottling plant, and three main warehouses. The non-alcoholic ready-to-drink market in Bangladesh, estimated at Tk 4,000 crore-Tk 6,000 crore, witnesses robust growth, with a projected 12 percent annual average growth by 2032, according to CCI. CCBB, bolstered by its market leadership in the soft drinks category with a 45.3 percent share as of 2023, has continuously strengthened its competitive position in Bangladesh. The acquisition solidifies CCI’s presence in Bangladesh’s beverage market, complementing its operations across 11 Muslim-majority countries. Additionally, Bangladesh’s soft drink market is served by both international giants like Coca-Cola and PepsiCo and local players like Pran, Akij, and Partex.

Source: The Daily Star