Coca-Cola HBC has announced that it has acquired Bambi, Serbia’s leading confectionary business. The acquisition was completed from funds advised by Mid Europa Partners in a 260- million-euro deal.
The final agreement will be defined later on, and the acquisition is subject to regular conditions and authorizations by the competent bodies, which is why the process is expected to be completed in the second quarter of 2019. The strategic intention of the company is for this acquisition to provide it with new opportunities for development in Serbia and the region and the possibility of expansion to complementary product categories.
Soran Bogdanovic, CEO of Coca-Cola HBC, commented on the acquisition:
“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.”
The acquisition adds iconic brands to the Coca-Cola HBC portfolio in Serbia and in the Western Balkans.
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The company has said that these two territories are among its fastest growing.
Coca-Cola HBC AG is the leading filling plant of Coca-Cola, with a sales volume of over 2 billion units. The company operates in 28 countries, providing refreshment for around 590 million people. Coca-Cola HBC is one of the leading companies in the beverage industry in Europe and the world according to the Dow Jones Sustainability Index (DJSI) and it is also included in the FTSE4Good Index.
In Serbia, the company has been operating successfully since 1968. It has grown from 30 employees and one production line to 14 production lines and over 1,000 employees.
Coca-Cola HBC Serbia is present in the market not just through business activities, but also through various investments and its positive impact on the local economy and the social community. So far, Coca-Cola HBC Serbia has invested over EUR 3 million in the local community through long-term programs and CSR activities.
Bambi was established in 1967 in Serbia and is a leading confectionary business in the region. It manufactures a range of products such as biscuits, wafers and savoury snacks. Under its portfolio, its brands include Bambi, Plazma, Wellness, Zlatni Pek, and Josh. Among these, its main biscuit brand Plazma is ranked first in brand recognition in Serbia, Coca-Cola HBC said.
Bambi’s 2018 revenue was 80 million euro. Over two-thirds were generated in Serbia, with the rest being predominantly generated in the Western Balkans. Its EBIT margin is almost three times higher than that of Coca-Cola HBC.
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