Bottler Coca-Cola HBC mulls other options for Russian business

(Reuters) – Soft drinks bottler Coca-Cola HBC AG said on Thursday it will evaluate all options for its Russian operations and have a smaller presence in the country, focussing on local brands.

The bottler, which counts Russia as one of its biggest markets, is also working closely with Coca-Cola to implement the U.S. beverage company’s decision to suspend its business in the region and stop orders for concentrates.

HBC is one of Coca-Cola’s many bottlers worldwide and holds local Coca-Cola franchises to bottle and sell drinks produced by the beverage giant. Coca-Cola holds a roughly 21% stake in HBC.

The London-listed company said organic revenue in the first-quarter rose 25.9%, excluding Russia and Ukraine.

(Reporting by Amna Karimi in Bengaluru; Editing by Sherry Jacob-Phillips)