Coca-Cola HBC AG
Coca-Cola HBC AG
06/28/2021 | Press release | Distributed by Public on 06/28/2021 00:10
Coca-Cola HBC strengthens its coffee portfolio with minority stake in Casa del Caff? Vergnano and exclusive, long-term distribution agreement
Coca-Cola HBC strengthens its coffee portfolio with minority stake in
Casa del Caffè Vergnano and exclusive, long-term distribution agreement
Zug, Switzerland, 28 June 2021. Coca-Cola HBC AG ('Coca-Cola HBC') is pleased to announce that on 25 June 2021, its wholly-owned subsidiary CC Beverages Holdings II B.V. ('CCH Holdings'), reached an agreement to acquire a 30% equity shareholding in Casa Del Caffè Vergnano S.p.A. ('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 (together, the 'Proposed Transaction'). 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.
Caffè Vergnano is a family-owned Italian coffee company headquartered in Santena, Italy. It is one of the oldest coffee roasters in Italy with roots dating back to 1882. Its product offering consists of truly premium, high-quality coffee that represents Italian heritage and authenticity at its best. Caffè Vergnano's portfolio includes traditional espresso in various blends, packages and formats such as beans, roast and ground coffee and single portioned pods. In 2020, the company sold approx. 7,000 tons of coffee in more than 90 countries worldwide.
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 HBCΆs 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.
Zoran Bogdanovic, CEO of Coca-Cola HBC, said:
'We are grateful for the trust being placed in us by the Vergnano family and are excited by the opportunities ahead with this terrific brand. With Caffè Vergnano, we are well positioned to build a total coffee portfolio that caters for a diverse range of consumer preferences. We are respectful of the company's 140-year history and the dedication and passion of the four generations that created such a rich and renowned coffee brand, synonymous with the authentic Italian coffee experience. Our investment in Caffè Vergnano is aligned with The Coca-Cola Company as we have worked together on this opportunity.'
Franco and Carlo Vergnano, CEO and Chairman of the Board of Directors of Caffè Vergnano, respectively, commented:
'We are very pleased to welcome Coca-Cola HBC as our new strategic partner to help accelerate our growth ambitions and support the journey of our brands outside our home market. By combining Coca-Cola HBC's expertise, know-how and critical mass, with our heritage coffee brand, great products and deep knowledge of the industry, we are confident this will prove a powerful partnership in growing our business further.'
Enquiries
Coca‑Cola HBC Group
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Investors and Analysts: |
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Joanna Kennedy Investor Relations Director |
Tel: +44 20 37 444 230 |
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Carla Fabiano Investor Relations Manager |
Tel: +44 20 37 444 231 |
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Vasso Aliferi Investor Relations Manager |
Tel: +41 79 610 78 81 |
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Media: |
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David Hart Group Communication Director |
Tel: +41 41 726 0143 |
About Coca‑Cola HBC
Coca-Cola HBC is a growth-focused Consumer Packaged Goods business and strategic bottling partner of The Coca-Cola Company. We create value for all our stakeholders by supporting the socio-economic development of the communities in which we operate and we believe building a more positive environmental impact is integral to our future growth. Together, we and our customers serve more than 600 million consumers across a broad geographic footprint of 28 countries on 3 continents. Our portfolio is one of the strongest, broadest and most flexible in the beverage industry, offering consumer-leading partner brands in the sparkling, juice, water, sport, energy, plant-based, ready-to-drink tea, coffee, adult sparkling and premium spirits categories. These brands include Coca-Cola, Coca-Cola Zero, Schweppes, Kinley, Costa Coffee, Valser, Romerquelle, Fanta, Sprite, Powerade, FuzeTea, Dobry, Cappy, Monster and Adez. We foster an open and inclusive work environment amongst our more than 27,000 employees and we are ranked among the top sustainability performers in ESG benchmarks such as the Dow Jones Sustainability Indices, CDP, MSCI ESG and FTSE4Good.
Coca-Cola HBC has a premium listing on the London Stock Exchange (LSE:CCH) and is listed on the Athens Exchange (ATHEX:EEE). For more information, please visit http://www.coca-colahellenic.com.