By Chisomo Phiri
BLANTYRE-(MaraviPost)-Castel Group, the leading producer and distributor of alcoholic and non-alcoholic beverages in Malawi has announced that Southern Bottlers Limited (SOBO) has agreed to sell its soft drinks business to Coca-Cola Beverages Limited (CCBL), a subsidiary of Coca-Cola Beverages Africa (CCBA).
In a statement dated February 18, 2022, the company said the transaction remains subject to obtaining the necessary regulatory approvals, including approval by the COMESA Competition Commission.
The statement added that the divestment of the soft drinks business is in line with the board’s strategy to focus on investments in its alcoholic beverages business.
“This is a great opportunity for the country as the CCBA group has a strong track record on the continent and is committed to sustainable growth where it operates,” reads a statement in part.
However, the company says it will communicate further regarding regarding the transaction as soon as the necessary regulatory approvals have been received by the parties.