Coca-Cola HBC has agreed to buy a 75% stake in Coca-Cola Beverages Africa from the Coca-Cola Company and South Africa’s Gutsche Family Investments for about $2.6 billion, creating one of the largest Coca-Cola bottlers in the world. The deal supports Coca-Cola’s strategy to move away from the capital-intensive bottling business and focus on its core beverage brands.

Coca-Cola HBC, which already bottles the brand across Europe and parts of Africa, said the acquisition reflects confidence in Africa’s long-term growth potential. The Gutsche family will be paid in cash and shares, giving it a 5.5% stake in HBC and an ongoing role in the company.

HBC plans to list shares on the Johannesburg Stock Exchange and expand into 14 additional African countries. Coca-Cola will retain a 25% stake, with HBC having the option to buy the remainder within six years.