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CCBA Suspends Acquisitions In Kenya

October 20, 2020: 12:00 AM EST
Coca-Cola Beverages Africa (CCBA) has decided to emphasize integration of businesses it has acquired recently so will not make new acquisitions in the local market in the near term. The company is said to be aligning Nairobi Bottlers and Almasi Beverages’ operations to those of the parent company’s systems and policies following its acquisition from Centum Investment Company a year ago. Through its subsidiary, Coca-Cola Sabco East Africa Limited, CCBA acquired 53.9 percent and 27.6 percent of the stake held by Centum at Almasi and Nairobi Bottlers respectively at a value of $200 million. The company says sales and revenue slid by 50 percent for carbonated soft drinks, juice, energy drinks and fuze tea bags because of the pandemic. Government-imposed lockdowns led to disruptions in production, supply chains, and reduced demand for the products.[Image Credit: © Coca-Cola Beverages South Africa]
"Coca-Cola now pauses new acquisitions in Kenyan market", Business Daily, October 20, 2020, © Nation Media Group
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