Tashkent, Uzbekistan (UzDaily.com) — International Beverages Tashkent (IBT) has gained full control over the joint venture Urban Retail, becoming its sole owner.

The deal received approval from Uzbekistan’s Competition Development and Consumer Protection Committee. Urban Retail is responsible for managing the Baraka Market supermarket chain.

Following an analysis conducted by the committee’s special commission, the transaction was classified as an internal corporate reorganization, as both companies share the same founder. The commission concluded that the deal does not significantly impact market competition.

International Beverages Tashkent specializes in the production of non-alcoholic beverages under well-known brands, including Pepsi, 7UP, Mirinda, Mountain Dew, Adrenaline Rush, and Lipton.

Both IBT and Urban Retail are owned by Holten Enterprise Holdings Ltd (99.9%) and Holten Group Corp (0.1%), with Urban Retail’s ownership structure mirroring that of IBT: 99% belonging to Holten Enterprise Holdings and 1% to Holten Group Corp. Urban Retail engages in wholesale trade of non-alcoholic beverages, food products, and consumer goods through the Baraka Market supermarket network.

In 2019, the Uzbek government put its stake in International Beverages Tashkent up for sale. In 2022, Uzbekistan’s Antimonopoly Committee approved the acquisition of 99.9% of IBT by UAE-based Holten Enterprise Holdings. That same year, the investor also acquired a stake in Urban Retail.

IBT ranks among Uzbekistan’s top 10 taxpayers in the private sector. In 2024, the company paid 342.8 billion soums in taxes, securing 9th place in the rankings. Over the first 11 months of last year, IBT’s turnover reached 3.24 trillion soums. In comparison, Coca-Cola paid 634.2 billion soums in taxes, with a turnover of 6.15 trillion soums during the same period.