Coca-Cola HBC AG Acquires Serbia's leading confectionery brand (2866Q)
February 18 2019 - 2:00AM
UK Regulatory
TIDMCCH
RNS Number : 2866Q
Coca-Cola HBC AG
18 February 2019
FOR IMMEDIATE RELEASE
Coca-Cola HBC AG
Coca-Cola HBC increases presence in key consumption occasions
and channels with the acquisition of Serbia's leading confectionery
brand
Zug, Switzerland - 18 February 2019 - Coca--Cola HBC AG
("Coca-Cola HBC") is pleased to announce the acquisition of Bambi,
Serbia's leading confectionery business from funds advised by Mid
Europa Partners, a leading buyout investor in Central and Eastern
Europe, for an enterprise value of EUR260 million, subject to
certain closing adjustments. Completion of the acquisition is
expected in the second quarter of 2019 and is subject to customary
closing conditions and regulatory approvals.
Bambi, established in 1967 in Serbia, is a leading regional
confectionery business. The company manufactures a range of
products including biscuits, wafers and savoury snacks. The
company's brands include Bambi, Plazma, Wellness, Zlatni Pek, and
Josh. Its main biscuit brand, Plazma, ranks first in brand
recognition in Serbia[1]. In 2018, Bambi recorded revenue of
approx. EUR80 million, of which more than two thirds are generated
in Serbia and the rest predominantly in the Western Balkans. Bambi
enjoys strong profitability and its EBIT margin is nearly three
times higher than that of Coca-Cola HBC.
The acquisition adds market-leading iconic brands in a relevant,
adjacent category to the Coca-Cola HBC portfolio in Serbia and in
the Western Balkans which are among our fastest growing
territories. Bambi offers opportunities for revenue synergies
through cross-promotion and complementary innovation and cost
efficiencies. The Bambi business also brings a strong distribution
network and product portfolio in strategically important channels
such as traditional retail and HoReCa.
Zoran Bogdanovic, CEO of Coca-Cola HBC, commented: "This
acquisition represents an excellent opportunity to create
additional value for Coca-Cola HBC, its customers and shareholders.
It adds iconic, complementary consumer brands to our portfolio of
leading beverage brands, as well as consumer-focused innovation
capabilities. It further strengthens our relevance with customers
and allows us to increase our presence in key consumption
occasions, such as the start of the day, on the go and at home
snacking and refreshment."
[1] Source: "My Choice", Serbia Consumer Association and Serbian
Chamber of Commerce
Enquiries
Coca--Cola HBC Group
Basak Kotler Tel: +44 20 37 444 231
Investor Relations Director basak.kotler@cchellenic.com
Joanna Kennedy Tel: +44 20 37 444 230
Investor Relations Manager joanna.kennedy@cchellenic.com
Vasso Aliferi Tel: +41 44 835 9274
Investor Relations Manager vasso.aliferi@cchellenic.com
International media contact:
Teneo Blue Rubicon
Rob Morgan Tel: +44 7557 413 275 robert.morgan@teneobluerubicon.com
Shona Buchanan shona.buchanan@teneobluerubicon.com
Greek media contact:
V+O Communications Tel: +30 211 7501219
Argyro Oikonomou ao@vando.gr
About Coca--Cola HBC
Coca-Cola HBC is a leading bottler of The Coca-Cola Company with
an annual sales volume of more than 2 billion unit cases. It has a
broad geographic footprint with operations in 28 countries serving
a population of more than 600 million people. Coca-Cola HBC offers
a diverse range of primarily non-alcoholic ready-to-drink beverages
in the sparkling, juice, water, sport, energy, tea and coffee
categories. Coca-Cola HBC is committed to promoting sustainable
development in order to create value for its business and for
society. This includes providing products that meet the beverage
needs of consumers, fostering an open and inclusive work
environment, conducting its business in ways that protect and
preserve the environment and contribute to the socio-economic
development of the local communities. Coca-Cola HBC has been listed
in the Dow Jones Sustainability Indices since 2008, and ranked
among the top beverage companies in the Global and European indices
for the past five years. Coca-Cola HBC is also included in the
FTSE4Good Index, rated "AAA" on the MSCI ESG index, rated "A" for
Climate and Water by CDP and listed on the Sustainalytics and Vigeo
rankings.
Coca-Cola HBC has a premium listing on the London Stock Exchange
(LSE: CCH) and its shares are listed on the Athens Exchange (ATHEX:
EEE). For more information, please visit
http://www.coca-colahellenic.com.
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END
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