Coca-Cola Hellenic Bottling Company has said it has completed its takeover of Socib, Italy's second-largest franchise bottler of Coca-Cola soft drinks.

Coca-Cola Hellenic (CCHBC) said yesterday (11 December) that the EUR264.5m (US$351m) deal would have a "negligible impact on earnings in 2008".

Acquiring Socib will increase group sales volume by around 25% in Italy, said the Greece-based bottler, which operates across much of Central and Eastern Europe, as well as Ireland.

Following the deal, Socib CEO Fabrizio Capua has been appointed chairman of CCHBC's Italian business. CCHBC's managing director in Italy, Dario Rinero, will oversee all operations in the country.