Jubilant Food Ltd said it has signed an MoU with Coca-Cola company to buy sparkling drinks and other products from the beverages major.
Besides, JFL will also conduct marketing activities for “sparkling beverage products and certain other products” of Coca-Cola, the company said in a regulatory filing.
This is a major shift after its parent entity Jubilant Bhartia Group earlier this month announced the acquisition of 40 per cent stake in the Hindustan Coca-Cola Beverages, the bottling arm of Coca-Cola in India. Coca Cola India has a portfolio of products which include brands like Limca, Sprite, Thums Up among others.
“The company will purchase a portfolio of sparkling beverage products and certain other products from The Coca-Cola Company authorised bottlers, as defined in the MoU,” it said in the exchange filing.
Jubilant FoodWorks also said in its filing that it will conduct marketing activities for products defined in the MoU.
This move was a part of The Coca-Cola Company’s (TCCC’s) strategy of refranchising its bottling operations globally as part of its asset-light strategy.
