Coca‑Cola HBC increases presence in key consumption occasions and channels with the acquisition of Serbia’s leading confectionery brand
Zug, Switzerland – 18 February 2019 – Coca‑Cola HBC AG (“Coca‑Cola HBC”) is pleased to announce the acquisition of Bambi, Serbia’s leading confectionery business from funds advised by Mid Europa Partners, a leading buyout investor in Central and Eastern Europe, for an enterprise value of €260 million, subject to certain closing adjustments. Completion of the acquisition is expected in the second quarter of 2019 and is subject to customary closing conditions and regulatory approvals.
Bambi, established in 1967 in Serbia, is a leading regional confectionery business. The company manufactures a range of products including biscuits, wafers and savoury snacks. The company’s brands include Bambi, Plazma, Wellness, Zlatni Pek, and Josh. Its main biscuit brand, Plazma, ranks first in brand recognition in Serbia1. In 2018, Bambi recorded revenue of approx. €80 million, of which more than two thirds are generated in Serbia and the rest predominantly in the Western Balkans. Bambi enjoys strong profitability and its EBIT margin is nearly three times higher than that of Coca‑Cola HBC.
The acquisition adds market-leading iconic brands in a relevant, adjacent category to the Coca‑Cola HBC portfolio in Serbia and in the Western Balkans which are among our fastest growing territories. Bambi offers opportunities for revenue synergies through cross-promotion and complementary innovation and cost efficiencies. The Bambi business also brings a strong distribution network and product portfolio in strategically important channels such as traditional retail and HoReCa.
“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.” Zoran Bogdanovic, CEO of Coca‑Cola HBC
1Source: “My Choice”, Serbia Consumer Association and Serbian Chamber of Commerce
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About Coca‑Cola HBC
Coca‑Cola HBC is a leading bottler of The Coca‑Cola Company with an annual sales volume of more than 2 billion unit cases. It has a broad geographic footprint with operations in 28 countries serving a population of more than 600 million people. Coca‑Cola HBC offers a diverse range of primarily non-alcoholic ready-to-drink beverages in the sparkling, juice, water, sport, energy, tea and coffee categories. Coca‑Cola HBC is committed to promoting sustainable development in order to create value for its business and for society. This includes providing products that meet the beverage needs of consumers, fostering an open and inclusive work environment, conducting its business in ways that protect and preserve the environment and contribute to the socio-economic development of the local communities. Coca‑Cola HBC has been listed in the Dow Jones Sustainability Indices since 2008, and ranked among the top beverage companies in the Global and European indices for the past five years. Coca‑Cola HBC is also included in the FTSE4Good Index, rated “AAA” on the MSCI ESG index, rated “A” for Climate and Water by CDP and listed on the Sustainalytics and Vigeo rankings.
Coca‑Cola HBC has a premium listing on the London Stock Exchange (LSE: CCH) and its shares are listed on the Athens Exchange (ATHEX: EEE). For more information, please visit http://www.coca-colahellenic.com.