Coca-Cola HBC to buy Lithuania's water leader, Neptuno Vandenys
The Lithuanian unit of Coca-Cola HBC has lined up the purchase of the country's bottled water market leader, Neptuno Vandenys UAB.
The transaction, announced yesterday, will see Neptunas bring its 20% market share - from its namesake brand - into the Coca-Cola HBC portfolio. When contacted by just-drinks today, a spokesperson for CCHBC said: "Both companies have agreed not to disclose details of the acquisition agreement."
Neptuno's production facilities and water sources are located in Varena, in south Lithuania.
"We are proud to be adding this powerful brand to our existing portfolio," said Valdas Pakstys, sales manager for CCHBC Baltics. "We look forward to working together with the people of Neptunas to further grow and develop the brand by utilising our strong sales and distribution capabilities and extensive market know-how."
The transaction is expected to complete towards the end of the first quarter next year.
Last month, CCHBC reported a 2% dip in group sales for the first nine months of this year.
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