Coca-Cola HBC AG has begun the process of acquisition of the leading confectionery company Bambi from Mid Europa Partners, worth EUR 260 million, the company announced.
The final agreement will be defined later on, and the acquisition is subject to regular conditions and authorizations by the competent bodies, which is why the process is expected to be completed in the second quarter of 2019. The strategic intention of the company is for this acquisition to provide it with new opportunities for development in Serbia and the region and the possibility of expansion to complementary product categories.
– This acquisition is an excellent opportunity for creating added value for our company, customers and shareholders. To our portfolio of leading beverage brands, we will add complementary brands well-known to consumers, as well as innovative skills and knowledge. This will further strengthen our relevance in the market and our relationship with our customers, allowing us to increase our presence in key opportunities for consumption, such as the start of the day, consumption on the move and as a refreshment at home – said Zoran Bogdanovic, the CEO of Coca-Cola HBC AG.
The acquisition will add the leading brands in a very important complementary category to the portfolio of the company in Serbia, which is one of the fastest growing markets for Coca-Cola HBC globally. The company also believes that the acquisition offers the possibility of synergy through joint promotions and complementary innovations. An important value of Bambi is its strong distribution network, including the distribution through strategically important channels, such as traditional retail and HoReCa.
– After marking half a century from the beginning of the production of Coca-Cola in Serbia, after a continuous growth and the winning of the prestigious Andrew David Cup for three years in a row as the most successful operation within the Coca-Cola HBC Group, we are sure that our team is ready to support this important decision of the company to step into the category of snacks and confectionery. This acquisition confirms that Serbia is a very attractive destination for foreign investments, but also the proof of our company's determination to remain an integral part of the local community we operate within and to continue developing the business in this country. I am sure that our global brands, our knowledge, acquired in numerous markets, and our dedication to the local community, together with Bambi's leading brands in the confectionery market will be the winning combinations. Furthermore, we are very happy to welcome all our new colleagues from Bambi to the Coca-Cola HBC family – said Svetoslav Atanasov, the general manager of Coca-Cola HBC Serbia and Montenegro.
Coca-Cola HBC AG is the leading filling plant of Coca-Cola, with a sales volume of over 2 billion units. The company operates in 28 countries, providing refreshment for around 590 million people. Coca-Cola HBC is one of the leading companies in the beverage industry in Europe and the world according to the Dow Jones Sustainability Index (DJSI) and it is also included in the FTSE4Good Index. In Serbia, the company has been operating successfully since 1968. It has grown from 30 employees and one production line to 14 production lines and over 1,000 employees. Coca-Cola HBC Serbia is present in the market not just through business activities, but also through various investments and its positive impact on the local economy and the social community. So far, Coca-Cola HBC Serbia has invested over EUR 3 million in the local community through long-term programs and CSR activities.
Bambi, founded in 1967, is the leading local producer of confectionery from Pozarevac. The company's brands are Bambi, Plazma, Wellness, Zlatni Pek and Josh. The company's leading biscuit brand, Plazma, owns 29% of the market in the said category and is the most recognizable brand in Serbia.