Coca Cola HBC to acquire Italian beverage company Lurisia for US$97m
Coca Cola HBC acquisition of Lurisia : Coca Cola Hellenic Bottling Company (Coca Cola HBC), a Swiss bottling partner of The Coca‑Cola, has agreed to acquire Lurisia, an Italian natural mineral water and adult sparkling beverages firm, for the total enterprise value of €88 million (US$97 million).
The acquisition executed through Coca Cola HBC’s wholly-owned subsidiary Coca Cola HBC Italia S.r.l. and in conjunction with The Coca Cola complements the company’s earlier related transaction and expands its portfolio by adding Italian brands such as plant-based drinks and iced teas.
Lurisia offers sparkling beverages in a wide range of flavors such as Chinotto, Gazzosa, Aranciata, Aranciata Rossa, Aranciata Amara, Limonata and Tonica.
Coca Cola HBC said the selling shareholders include the Invernizzi family, food retailer Eataly Distribuzione S.r.l and IDeA Taste of Italy, a private equity fund managed by DeA Capital Alternative Funds SGR S.r.l.
Lurisia CEO Piero Bagnasco and Alessandro Invernizzi will remain on the board of directors of Acque Minerali as part of the agreement.
UBS AG London Branch is acting as financial adviser and sponsor to Coca Cola HBC.
Subject to customary closing conditions, the acquisition is expected to complete by the end of this year.
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