Coca-Cola Beverages Africa acquires Maluti Mountain Breweries’ interest in the soft drinks business
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CAPE TOWN - Coca-Cola Beverages Africa (CCBA) has acquired Maluti Mountain Breweries’ interest in the soft drinks business, which was now part of a newly formed entity called Coca-Cola Beverages Lesotho, following a reorganisation, CCBA said in a statement yesterday.
The other key shareholders in the venture were the Lesotho National Development Corporation (LNDC) and the Ministry of Finance. The deal was signed on October 6, 2020, and all regulatory approvals were obtained.
The non-alcoholic, ready to drink business in Lesotho would be referred to as Coca-Cola Beverages Lesotho (CCBL) and would operate as a subsidiary of CCBA, with management control.
The entity started distributing Coca-Cola products from yesterday.
“We are committed to growing the soft drinks industry and the business in Lesotho and will endeavour to launch new products into the Lesotho market to meet consumer needs. We are also excited to partner with LNDC,” said CCBL Country Manager Tsepo Maketela.
He said Lesotho customers would benefit from being part of a consolidated, successful Coca-Cola system that spanned 13 other markets on the continent.
“Access to shared best practices will enhance efficiencies and a better distribution capability will provide pervasive availability of cold beverages to end-customers, We will be able to respond to consumer demand more quickly.,” he said.
CCBA is the eighth largest Coca-Cola bottling partner in the world by revenue, and the largest on the continent, accounting for 40 percent oF Coca-Cola products sold in Africa by volume.