Western Europe Beverages and Tobacco: Share Buyback Tracker – ABI, BATS, CCEP, FEVR, HEIA, IMB, RBREW

Research evidence excerpt

Western Europe Beverages and Tobacco: Share Buyback Tracker – ABI, BATS, CCEP, FEVR, HEIA, IMB, RBREW

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22 Jul 2026 00:00:00 ET │ 15 pages

Western Europe Beverages and

Tobacco

Share Buyback Tracker – ABI, BATS, CCEP, FEVR, HEIA, IMB, RBREW

Simon Hales AC

CITI'S TAKE +44-20-7986-4049

simon.hales@citi.com

The Citi Share Buyback Tracker follows the progress of ongoing share

buyback programmes within our Beverages & Tobacco coverage. Consumer Sunny Wadhwani

Staples stocks have long offered attractive shareholder returns as highly +91-22-4277-5078

cash generative companies, particularly within the Tobacco sector. sunny.wadhwani@citi.com

Historically, share buybacks have enhanced total shareholder returns as

well as providing technical support to stock prices. In this report, we track

the progress of the current programmes at ABI, BATS, CCEP, Fever-Tree,

Heineken, Imperial Brands and Royal Unibrew through to 17th July 2026.

ABInBev — ABInBev announced a $6bn share buyback which started on 3rd Nov

2025 and will run over the next 2 years. To date, ABI has repurchased 25.6m shares,

equating to $1.8bn at 2.7% of daily volumes.

BATS — BATS increased its share buyback for FY24-25 in Jun-25 to £1.8bn (from

£1.6bn) using net proceeds from the sale of equity assets. With FY25 trading update

on 9th Dec 2025, the group further extended the buyback programme by £1.3bn to

run through 2026. To date, BATS has repurchased 75m shares, equating to £2.5bn

at 1.8% of daily volumes.

CCEP — CCEP started the 2nd half of its €1bn share buyback from 6th July to be

completed by 18 Dec 2026. This follows the completion of its previous €500mn

buyback on 24th April 2026. To date, the group has repurchased 490K shares,

equating to €45mn at 2.9% of daily volumes.