Coca-Cola HBC AG CCH takes minority stake in Caffè Vergnano (2378D)
June 28 2021 - 1:00AM
UK Regulatory
TIDMCCH
RNS Number : 2378D
Coca-Cola HBC AG
28 June 2021
Coca-Cola HBC strengthens its coffee portfolio with minority
stake in
Casa del Caffè Vergnano and exclusive, long-term distribution
agreement
Zug, Switzerland, 28 June 2021. Coca-Cola HBC AG ("Coca-Cola
HBC") is pleased to announce that on 25 June 2021, its wholly-owned
subsidiary CC Beverages Holdings II B.V. ("CCH Holdings"), reached
an agreement to acquire a 30% equity shareholding in Casa Del Caffè
Vergnano S.p.A. ("Caffè Vergnano"), a premium Italian coffee
company. Completion of the acquisition is expected in the second
half of 2021 and is subject to customary closing conditions and
regulatory approvals. Furthermore, Coca-Cola HBC and Caffè Vergnano
will enter into an exclusive distribution agreement for Caffè
Vergnano's products in Coca-Cola HBC's territories outside of Italy
(together, the "Proposed Transaction"). CCH Holdings will be
represented on the Board of Directors of Caffè Vergnano and have
customary minority decision-making and governance rights. The
parties have agreed not to disclose financial details of the
Proposed Transaction.
Caffè Vergnano is a family-owned Italian coffee company
headquartered in Santena, Italy. It is one of the oldest coffee
roasters in Italy with roots dating back to 1882. Its product
offering consists of truly premium, high-quality coffee that
represents Italian heritage and authenticity at its best. Caffè
Vergnano's 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 approx. 7,000
tons of coffee in more than 90 countries worldwide.
The Proposed Transaction represents an important milestone in
Coca-Cola HBC's vision of being the leading 24/7 beverage partner
across its markets. Caffè Vergnano is highly complementary to its
existing Costa Coffee proposition and will allow Coca-Cola HBC to
address an even wider range of consumer tastes and segments.
Furthermore, the partnership will increase Coca-Cola HBC's
relevance with its customers within the most attractive segments of
the coffee category, while providing Caffè Vergnano with
significant expansion potential through Coca-Cola HBC's leading
route to market network and commercial capabilities.
Zoran Bogdanovic, CEO of Coca-Cola HBC , said:
"We are grateful for the trust being placed in us by the
Vergnano family and are excited by the opportunities ahead with
this terrific brand. With Caffè Vergnano, we are well positioned to
build a total coffee portfolio that caters for a diverse range of
consumer preferences. We are respectful of the company's 140-year
history and the dedication and passion of the four generations that
created such a rich and renowned coffee brand, synonymous with the
authentic Italian coffee experience. Our investment in Caffè
Vergnano is aligned with The Coca-Cola Company as we have worked
together on this opportunity."
Franco and Carlo Vergnano , CEO and Chairman of the Board of
Directors of Caffè Vergnano, respectively, commented:
"We are very pleased to welcome Coca-Cola HBC as our new
strategic partner to help accelerate our growth ambitions and
support the journey of our brands outside our home market. By
combining Coca-Cola HBC's expertise, know-how and critical mass,
with our heritage coffee brand, great products and deep knowledge
of the industry, we are confident this will prove a powerful
partnership in growing our business further."
Enquiries
Coca--Cola HBC Group
Investors and Analysts:
Joanna Kennedy Tel: +44 20 37 444 230
Investor Relations Director joanna.kennedy@cchellenic.com
Carla Fabiano Tel: +44 20 37 444 231
Investor Relations Manager carla.fabiano@cchellenic.com
Vasso Aliferi Tel: +41 79 610 78 81
Investor Relations Manager vasso.aliferi@cchellenic.com
Media:
David Hart Tel: +41 41 726 0143
Group Communication Director david.hart@cchellenic.com
About Coca--Cola HBC
Coca-Cola HBC is a growth-focused Consumer Packaged Goods
business and strategic bottling partner of The Coca-Cola Company.
We create value for all our stakeholders by supporting the
socio-economic development of the communities in which we operate
and we believe building a more positive environmental impact is
integral to our future growth. Together, we and our customers serve
more than 600 million consumers across a broad geographic footprint
of 28 countries on 3 continents. Our portfolio is one of the
strongest, broadest and most flexible in the beverage industry,
offering consumer-leading partner brands in the sparkling, juice,
water, sport, energy, plant-based, ready-to-drink tea, coffee,
adult sparkling and premium spirits categories. These brands
include Coca-Cola, Coca-Cola Zero, Schweppes, Kinley, Costa Coffee,
Valser, Romerquelle, Fanta, Sprite, Powerade, FuzeTea, Dobry,
Cappy, Monster and Adez. We foster an open and inclusive work
environment amongst our more than 27,000 employees and we are
ranked among the top sustainability performers in ESG benchmarks
such as the Dow Jones Sustainability Indices, CDP, MSCI ESG and
FTSE4Good.
Coca-Cola HBC has a premium listing on the London Stock Exchange
(LSE:CCH) and is listed on the Athens Exchange (ATHEX:EEE). For
more information, please visit http://www.coca-colahellenic.com
.
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