LONDON (Alliance News) - Coca-Cola HBC AG on Monday said it has acquired Serbian biscuits and snacks manufacturer Bambi for a EUR260 million enterprise value.
The bottler of Coca-Cola soft drink bought Bambi from funds advised by Mid Europa Partners.
Bambi's 2018 revenue was approximately EUR80 million, more than two-third of which was generated in Serbia. Its brands include Wellness, Zlatni Pek, and Josh, as well as its main business brand, Plazma.
Coca-Cola HBC said the acquisition adds brands in an "adjacent category" to its existing portfolio in Serbia and the western Balkans, one of the fastest growing territories for the company.
"This acquisition represents an excellent opportunity to create additional value for Coca-Cola HBC, its customers and shareholders. It adds iconic, complementary consumer brands to our portfolio of leading beverage brands, as well as consumer-focused innovation capabilities. It further strengthens our relevance with customers and allows us to increase our presence in key consumption occasions, such as the start of the day, on the go and at home snacking and refreshment," said Coca-Cola HBC Chief Executive Zoran Bogdanovic.
Shares in Coca-Cola HBC were trading 0.5% lower at 2,550.00 pence each on Monday morning.
Coca-Cola HBC (CCH)