Coca-Cola HBC has announced it will acquire 75 per cent of Johannesburg-based Coca-Cola Beverages Africa for $2.6 billion, creating the world’s second-largest Coca-Cola bottling partner by volume.

The deal adds 14 African markets to HBC’s portfolio, including Egypt, covering more than half of the continent’s population and two-thirds of Coca-Cola’s total volume in Africa, the company said Tuesday.

The deal values 100% of CCBA at an equity value of $3.4 billion.

As part of the agreement, Coca-Cola HBC which bottles drinks including Fanta, Sprite, and Monster, plans to pursue a secondary listing on the Johannesburg Stock Exchange,” the company said.

The companies aim to complete the transaction by the end of 2026.

They have also agreed on a separate option allowing Coca-Cola HBC to acquire the remaining 25 per cent stake within six years of closing.