Coca-Cola HBC Closes Acquisition Of Minority Stake In Caffè Vergnano
Coca-Cola HBC has completed the acquisition of a minority stake in Casa del Caffè Vergnano (Caffè Vergnano).
The bottler has acquired a 30% equity shareholding in Caffè Vergnano for an undisclosed amount.
The deal also includes an exclusive distribution agreement for Caffè Vergnano's products in Coca-Cola HBC's territories outside of Italy.
The transaction, first announced in June of this year, will see Coca-Cola represented on the board of directors of Caffè Vergnano with customary minority decision-making and governance rights.
Family-Owned Coffee Company
Caffè Vergnano is a family-owned Italian coffee company headquartered in Santena, Italy. It is one of the oldest coffee roasters in the country, with roots dating back to 1882.
Its portfolio includes traditional espresso in various blends, packages and formats such as beans, roast and ground coffee, and single portioned pods.
In 2020, the company sold approximately 7,000 tonnes of coffee in more than 90 countries worldwide.
Coca-Cola HBC is a growth-focused consumer packaged goods business and strategic bottling partner of The Coca-Cola Company.
It serves more than 600 million consumers across a broad geographic footprint comprising 28 countries across three continents.
Its portfolio top beverage brands in the sparkling, juice, water, sport, energy, plant-based, ready-to-drink tea, coffee, adult sparkling and premium spirits categories.
The beverages include Coca-Cola, Coca-Cola Zero, Schweppes, Kinley, Costa, Valser, Romerquelle, Fanta, Sprite, Powerade, FuzeTea, Dobry, Cappy, Monster and Adez.
In August, the soft drinks bottler said that it expects lower margins in the second half due to higher costs and inflation, while reporting a jump in first-half profit as people returned to restaurants and cinemas after lockdowns.