GREECE: Coca-Cola HBC agrees US$200m deal for Coke bottlers
The US$200m deal, subject to regulatory approval, will add more than 100m unit cases of volume and 100m consumers to Coca-Cola HBC's existing territory.
In a statement released today Irial Finan, managing director of Coca-Cola HBC said: "Coca-Cola Molino Beverages Ltd is a joint venture between Coca-Cola HBC (60%) and the Coca-Cola Company (40%), which holds the existing operations managed by Coca-Cola HBC in Western Russia and Siberia.
"By acquiring Coca-Cola Co-owned bottling subsidiaries in Russia and the Baltics, Coca-Cola HBC will benefit from greater synergy and efficiencies brought about through the consolidation of geographically contiguous operations.
"The existing facilities operated by Coca-Cola HBC in Western Russia and Siberia are showing impressive performances. This solid foundation will enable the company to release the full potential of the business it hopes to acquire as a result of this transaction in-line with the company's strategic growth plan," Finan added.
Once the deal is completed, which is expected before the end of the year, Coca-Cola HBC will operate in 26 countries serving more than 500m consumers with approximately 1.2bn unit cases of soft drinks.
Companies: Coca-Cola HBC
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