Acquisition of Italian Vending Operator Eurmatik Proclaimed by Coca-Cola HBC
Eurmatik has a long tradition in the Italian vending industry and is currently operating in all segments of the vending business such as hot and cold beverages, water and snacks.
24/04/07 Coca-Cola Hellenic Bottling Company S.A. announced that it has agreed to acquire 100% of Eurmatik, a local full-line vending operator in Italy. Eurmatik has a long tradition in the Italian vending industry and is currently operating in all segments of the vending business such as hot and cold beverages, water and snacks.
The total consideration for the transaction is EUR15.8 million (including debt but excluding acquisition costs). The final purchase price is subject to certain adjustments. The transaction is also subject to regulatory approval. The intended acquisition of Eurmatik is not expected to materially affect group profitability in the near term.
Commenting, Doros Constantinou, Managing Director of CCHBC said, “The Eurmatik acquisition provides Coca-Cola HBC with an opportunity to strengthen our presence and acquire valuable know-how in the full-line vending channel in Italy. This transaction is consistent with our strategy of selectively exploring new channels in order to extend our product reach and diversification, particularly in the high value immediate consumption channel. The intended acquisition of Eurmatik follows the acquisitions of two other vending operators, Vendit in Ireland in 2005 and Yoppi in Hungary in 2006.”
