KO · 10-Q · 2026Q3 · Full report
Acquisitions and Divestitures
COCA COLA CO · 2026-07-29 · Importance 46 · Surprise 42 · From source text
The Company refranchised bottling operations in certain territories in India in May 2025, affecting consolidated, Bottling Investments and Asia Pacific revenue analysis for the three and six months ended July 3, 2026. The Company sold its finished product operations in Nigeria in October 2025, affecting consolidated and EMEA revenue analysis in both 2026 periods. The India refranchising reduced Bottling Investments volume comparability, while Nigeria’s sale contributed to a 9% quarterly and 12% six-month decline in EMEA juice, value-added dairy and plant-based beverage volume. Related 2026 other operating charges totaled $19 million year to date for the India refranchising indemnification agreement and $10 million for North America modernization initiatives.
Key facts
- Proceeds from disposals of businesses, equity method investments and nonmarketable securities were $1 million and $973 million during the six months ended July 3, 2026 and June 27, 2025, respectively.
- The six months ended June 27, 2025 included $6,069 million of the $6,173 million final milestone payment for fairlife made during that period.
- The six months ended July 3, 2026 and June 27, 2025 included $75 million and $148 million, respectively, of investments in alternative energy limited partnerships.
- During the six months ended June 27, 2025 the Company recognized a gain of $331 million related to the sale of a portion of our ownership interest in CCEP.
- During the six months ended June 27, 2025 the Company recognized a gain of $102 million related to the refranchising of our bottling operations in certain territories in India.
- The Company refranchised its bottling operations in certain territories in India in May 2025.
- The Company sold its finished product operations in Nigeria in October 2025.
- The six months ended July 3, 2026 included the return of an advance payment of $184 million to acquire additional shares in an equity method investee in Japan.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | realized | -0.9% | Proceeds from disposals of businesses, equity method investments and nonmarketable securities were $1 million and $973 million during the… |
| cash | positive | realized | +0.1% | The six months ended July 3, 2026 and June 27, 2025 included $75 million and $148 million, respectively, of investments in alternative… |