Jubilant Bhartia Group—controlled by billionaire brothers Shyam and Hari Bhartia—has agreed to buy a 40% stake in Coca-Cola’s Indian bottler, marking the company’s expansion into the beverage industry.

Jubilant Bhartia Group said on Wednesday it will buy a 40% stake in Coca-Cola's largest bottler in India, as the Indian conglomerate plans to foray into the country's "high growth" beverage sector. The group,

While the financial details were not officially disclosed, media reports peg the deal's valuation at around INR 10,000 crore.

The acquisition is expected to intensify competition for players like Varun Beverages Ltd., Coca-Cola’s primary bottling partner in India.

Coca-Cola has sold a 40 per cent stake in Hindustan Coca-Cola Holdings Pvt Ltd (HCCH) to Jubilant Bhartia Group. HCCH is the parent company of Hindustan Coca-Cola Beverages Pvt Ltd (HCCBL), the largest Coke bottler in India.

The shares of the subsidiary of JB Group reached a low of ₹672.50, down 5% from the previous close of ₹707.80.

The Jubilant Bhartia Group, the promoters of Jubilant FoodWorks, has struck a deal to acquire a 40 per cent stake in Hindustan Coca-Cola Beverages (HCCB), the Indian bottling arm of the US beverage giant The Coca-Cola Company.

On the equities side, Jubilant FoodWorks’s stock has outperformed the market in the last six months as it has risen 27 per cent, while gaining 22 per cent in the last one year. In comparison BSE Sensex has risen 6 per cent year to date and 17 per cent in a year.

The Coca‑Cola Company has reached an agreement with the Jubilant Bhartia Group to acquire a 40% stake in Hindustan Coca‑Cola Holdings Pvt. Ltd.

Coca-Cola Co. sold 40 per cent of its stake in Hindustan Coca-Cola Holdings Pvt Ltd to Jubilant Bhartia Group, reported PTI.