(Alliance News) - Coca-Cola HBC AG has snapped up Italian mineral water and sparkling drinks firm Acque Minerali Srl, or Lurisia, for EUR88 million.
Lurisia was founded in 1940 in Roccaforte Mondovi in north-west Italy. Coca-Cola HBC, which bottles Coca-Cola products in Europe, said it is a "pioneer" in offering water products in bell-shaped glass bottles.
"Lurisia products enjoy high brand awareness and are associated with quality, authenticity, taste and the Italian lifestyle," said Coca-Cola HBC. The deal is a "strong fit", it added, complementing existing operations in Italy.
The company is being bought off shareholders including private equity firm IDeA Taste of Italy, the Invernizzi family, and Eataly Distribuzione Srl.
Coca-Cola HBC shares closed up 0.7% in London on Wednesday at a price of 2,671.00 pence each.
Coca-Cola HBC (CCH)