The acquisition is being made in conjunction with The Coca Cola Company, in-line with previous similar acquisitions
Coca‑Cola Hellenic Bottling Company (HBC) has announced that it has entered into an agreement for the acquisition of Acque Minerali, a privately-held natural mineral water and adult sparkling beverages business in Italy. The acquisition is being made through Coca‑Cola HBC’s wholly-owned subsidiary, Coca‑Cola HBC Italia.
The acquisition is being made in conjunction with The Coca‑Cola Company, in-line with previous similar acquisitions. The selling shareholders are the private equity fund IDeA Taste of Italy, managed by DeA Capital Alternative Funds SGR S.r.l., the Invernizzi family, and Eataly Distribuzione S.r.l. The total enterprise value payable by Coca‑Cola HBC and The Coca‑Cola Company, subject to customary closing adjustments, amounts to €88 million.
Completion of the acquisition is subject to certain conditions and is expected by the end of 2019. As part of the Transaction, Piero Bagnasco, CEO of Lurisia, and Alessandro Invernizzi will remain on the board of directors of Acque Minerali. Both are representatives of two of the selling shareholders.
Acque Minerali is a producer and distributor of natural mineral water and adult sparkling beverages under the Lurisia brand. In the water category, the company offers still and sparkling water in PET and glass packaging, sourced from springs 1,400 meters above sea level in Monte Pigna.
The acquisition of Lurisia complements the existing Coca‑Cola HBC beverage portfolio in Italy and is a strong fit for the company’s 24/7 total beverage partner strategy. It supports the company’s drive to further premiumise its portfolio and offer consumers an authentic Italian brand with strong heritage and well-rooted Italian origins.
UBS AG London Branch (“UBS”) is acting as Financial Adviser and Sponsor to Coca‑Cola HBC.