Coca-Cola HBC to acquire stake in Italian coffee company Caffè Vergnano
Coca-Cola Hellenic Bottling Company (Coca-Cola HBC) has agreed to acquire a stake of 30% in Italian coffee company Casa Del Caffè Vergnano (Caffè Vergnano) for an undisclosed price.
The Switzerland-based Coca Cola anchor bottler will acquire the stake through its fully-owned subsidiary CC Beverages Holdings II.
Additionally, Coca-Cola HBC has entered into an exclusive distribution agreement with Caffè Vergnano for the latter’s products in its territories outside of Italy.
Franco Vergnano and Carlo Vergnano – CEO and Chairman of the Board of Directors of Caffè Vergnano, respectively, said: “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.”
Headquartered in Santena, Caffè Vergnano is among the oldest coffee roasters in Italy with its history dating back to 1882. The family-owned Italian coffee company offers traditional espresso in multiple blends, packages, and formats like beans, roast and ground coffee and single portioned pods.
Last year, Caffè Vergnano sold nearly 7,000 tons of coffee in 90 plus countries.
Caffè Vergnano is said to be highly complementary to Coca-Cola HBC’s existing Costa Coffee offering and will enable the Coca Cola bottler to address an even larger variety of consumer tastes and segments.
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.”
The transaction, which is subject to regulatory approvals and other customary closing conditions, is anticipated to close in the second half of this year.