Hindustan Coca-Cola Beverages (HCCB), the Indian bottling arm of the Coca-Cola Company, has sold its Jharkhand bottling operations to Moon Beverages Pvt Ltd, one of its largest franchise partners. This divestment is part of Coca-Cola’s broader strategy to transition to an asset-light business model globally.
Moon Beverages, owned by the Sanjeev Agrawal-led MMG Group, already manages bottling operations in Delhi, parts of Uttar Pradesh, the North-East, and select regions of West Bengal. The MMG Group is also the operator of McDonald’s outlets in North and East India.
“This business transfer marks a significant decision for HCCB,” said Juan Pablo Rodriguez, CEO of HCCB India. “It ensures the right level of investments can be undertaken in all parts of the business while bringing both scale and contiguity.”
The latest divestment follows a similar move earlier this year, where HCCB transferred bottling operations in several northern and eastern territories to franchise partners Moon Beverages, SLMG Beverages, and Kandhari Global Beverages. These moves are designed to optimize operational efficiency and ensure targeted investments across key markets.
HCCB, which serves over 23 lakh retailers and more than 2,300 distributors, operates 13 manufacturing plants across India. The company’s product portfolio includes popular beverages like Coca-Cola, Thums Up, Sprite, Limca, Minute Maid juices, Maaza, Kinley and Dasani water, and Schweppes soda.
With the acquisition of the Jharkhand bottling operations, Moon Beverages continues to solidify its position as a key Coca-Cola franchisee. This expansion enhances Moon Beverages’ operational reach and supports the strategic goal of achieving seamless distribution and supply chain efficiency across contiguous regions.
Coca-Cola’s move to a franchise-focused model underscores its commitment to agility and scalability in emerging markets, where competition from regional beverage brands and new players like Reliance Consumer Products is intensifying.
The strategic realignment aims to boost growth and maintain Coca-Cola’s competitive edge in India’s rapidly expanding beverage market.