Coca-Cola HBC, a growth-focused consumer packaged goods business, agreed to acquire a 94.7% stake in Coca-Cola Bottling Company of Egypt, producer of non-alcoholic ready to drink beverages in Egypt operating five bottling plants, from The Coca-Cola Company, a total beverage company, and MAC Beverages, a privately owned group with investments in the beverages and packaging sectors, for $427m. "We are excited to welcome CCBCE to our group. We see great potential for this business to unlock considerable opportunities in the NARTD category in Egypt. With our best-in-class execution capabilities, commercial expertise and world leading approach to sustainability and communities, we believe there is a significant opportunity to create value for all stakeholders. We appreciate the trust placed in us by The Coca-Cola Company and MBL, and look forward to becoming part of the Coca-Cola system in Egypt," Zoran Bogdanovic, Coca-Cola HBC CEO.