In Egypt, the beverage industry is one of the most developed in North Africa and the Middle East. To take advantage of the economic opportunities linked to this market, many companies are increasing their investments.
Coca-Cola Hellenic Bottling Company (Coca-Cola HBC) has announced that it will spend $ 1 billion to expand its business in Egypt over the next 5 years.
In detail, the envelope should be used for the construction of new units as well as the expansion of the capacities of existing facilities. This major investment aims to strengthen the presence of the company in the land of the Pharaohs where it made a major acquisition last August.
Coca-Cola HBC has indeed bought a 94.7% stake in the Coca-Cola Bottling Company of Egypt (CCBCE) for $ 427 million. The operation allowed him to gain control of the company’s 5 bottling units and build on its leadership position in the country’s soft drinks.
In 2020, CCBE reported sales of Egyptian pounds 7.4 billion.”