Atlanta-based Coca-Cola has announced that it will record an impairment charge of approximately US$1 billion in the fourth quarter of 2025, reflecting its planned sale of a significant stake in its African bottling operations.
The move follows an agreement by Swiss-based bottler Coca‑Cola HBC AG to acquire a 75 % controlling interest in Coca‑Cola Beverages Africa (CCBA) for approximately US$2.6 billion, which values the African business at around US$3.4 billion. Coca-Cola currently holds about a 42 % stake in CCBA, with the remainder held by the Gutsche family investment vehicle.
The sale is part of Coca-Cola’s broader “asset-light” strategy of refranchising bottling operations worldwide, freeing the company to focus on brand-building and innovation rather than direct production and bottling. The deal is expected to close by late 2026, subject to regulatory approvals.
According to the company, CCBA operates across 14 African countries and accounts for roughly 40 % of Coca-Cola’s ready-to-drink beverage volume on the continent. The deal thus represents a strategic realignment with long-term growth prospects in Africa’s youthful and expanding consumer market.
Despite the mark-down, Coca-Cola’s third-quarter 2025 results remained resilient, aided by strong performance from its zero-sugar soda variants and growth in international markets. The impairment reflects non-cash accounting adjustments tied to the strategic transaction rather than an underlying operating loss.
As the beverage giant reshapes its global bottling footprint, the sale underscores two key trends: the increasing importance of African markets for consumer goods companies, and the rising need to optimise capital and reduce bottling-asset burdens in mature markets.
