RUSSIA: CCHBC completes Aquavision purchase
Coca-Cola Hellenic Bottling Company has completed its acquisition of Russian soft drinks production facility Aquavision.
The purchase, initially announced in July, will cost CCHBC EUR191.5m (US$260.2m), which will be funded by a combination of cash and short-term debt.
The facility, near Moscow, covers a total area of 35 hectares with four production lines - including two aseptic lines- warehousing facilities and office space.
The new site provides CCHBC with immediate incremental installed production capacity, as well as available space for the future installation of additional lines, the company noted. The plant is capable of producing a range of non-alcoholic beverages including carbonated soft drinks, fruit drinks and juices, bottled water, RTD tea and sports drinks.
Aquavision has recently launched juice products under the 'botaniQ' trademark, which are also included in the transaction.
CCHBC expects this transaction to be earnings accretive in 2008.
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