Coca-Cola HBC acquires Serbian fruit juice company Fresh & Co
The acquisition includes a production facility located at Subotica and the juice and nectar brands “Next” and “Su-Voce.”
23/01/06 Coca-Cola Hellenic Bottling Company S.A. has announced that it has agreed to acquire, jointly with The Coca Cola Company (TCCC), 100% of Fresh & Co, one of the leading producers of fruit juices in Serbia and Montenegro. The acquisition includes a production facility located at Subotica and the juice and nectar brands “Next” and “Su-Voce.”
CCHBC and TCCC had previously entered into negotiations to acquire this company in 2005, but ceased negotiations on 13 December 2005. However, the opportunity to acquire the company, in line with CCHBC’s investment criteria, presented itself once again and both CCHBC and TCCC have been able to move quickly in concluding negotiations.
The net consideration for the transaction is EUR 19.5 million (including the settlement of some of the company’s financial obligations, but excluding acquisition costs) and is subject to the company’s indebtedness at closing not exceeding EUR 23.1 million. The final purchase price is subject to certain adjustments. The transaction is subject to regulatory approval and is expected to be finalized by the end of February 2006.
Coca-Cola HBC is one of the world's largest bottlers of products of The Coca-Cola Company and has operations in 26 countries serving a population of more than 540 million people. CCHBC shares are listed on the Athens Exchange, with secondary listings on the London and Australian Stock Exchanges.
