Coca-Cola HBC strengthens coffee portfolio

Image credit: Coca Cola HBC

Coca-Cola HBC AG to acquire a 30 per cent equity shareholding in Casa Del Caffè Vergnano SpA

Coca-Cola HBC AG, also known as Coca-Cola Hellenic Bottling Company, has announced that its wholly-owned subsidiary CC Beverages Holdings II BV (CCH Holdings), reached an agreement to acquire a 30 per cent equity shareholding in Casa Del Caffè Vergnano SpA (Caffè Vergnano), a premium Italian coffee company.

Completion of the acquisition is expected in the second half of 2021 and is subject to customary closing conditions and regulatory approvals.

Furthermore, Coca-Cola HBC and Caffè Vergnano will enter into an exclusive distribution agreement for Caffè Vergnano’s products in Coca-Cola HBC’s territories outside of Italy.

CCH Holdings will be represented on the Board of Directors of Caffè Vergnano and have customary minority decision-making and governance rights. The parties have agreed not to disclose financial details of the Proposed Transaction.

The Proposed Transaction represents an important milestone in Coca-Cola HBC’s vision of being the leading 24/7 beverage partner across its markets. Caffè Vergnano is highly complementary to its existing Costa Coffee proposition and will allow Coca-Cola HBC to address an even wider range of consumer tastes and segments.

Furthermore, the partnership will increase Coca-Cola HBC’s relevance with its customers within the most attractive segments of the coffee category, while providing Caffè Vergnano with significant expansion potential through Coca-Cola HBC’s leading route to market network and commercial capabilities.

Read Previous

Study picks potato & rice protein shakes over whey protein

Read Next

Vasu Healthcare unveils herbal supplements range

Leave a Reply