Coca-Cola HBC AG CCH agrees to acquire Three Cents (3790V)
09 August 2022 - 4:00PM
UK Regulatory
TIDMCCH
RNS Number : 3790V
Coca-Cola HBC AG
09 August 2022
Coca-Cola HBC agrees to acquire Three Cents, a fast growing,
super-premium adult sparkling beverage and mixer business
Zug, Switzerland - 9 August 2022 - Coca-Cola HBC AG ("Coca-Cola
HBC") announced today that its wholly-owned subsidiary, CC
Beverages Holdings II B.V., has reached an agreement to acquire ESM
Effervescent Sodas Management Limited ("Company" or "Three Cents")
from S.I.C.C Holding Limited, a wholly-owned subsidiary of IDEAL
Holdings SA, a publicly-listed company in Greece (the
"Transaction"). The agreed enterprise value amounts to EUR45
million, subject to certain closing adjustments. Completion of the
Transaction is expected in the second half of 2022 and is subject
to customary closing conditions and regulatory approvals.
The Company is the owner of the popular super-premium mixer
product line under the Three Cents brand, offering artisanal
beverages crafted without preservatives or artificial colourings.
Three Cents was founded in 2014 by founders George Bagos, Dimitris
Dafopoulos, George Tsirikos and Vassilis Kalantzis, a group of
forward-looking bar tenders and F&B professionals. Since
inception, the brand has quickly established itself as a
super-premium, adult sparkling beverage and mixer for long-drinks
and cocktails. As part of the Transaction, its founding team will
remain with the Company and will continue to promote the brand,
providing their leadership and vision.
The adult super-premium sparkling beverage and mixer category
represents an exciting growth opportunity and is an important
pillar of Coca-Cola HBC's 24/7 beverage partner strategy. Coca-Cola
HBC caters to a growing range of consumer tastes and consumption
occasions with one of the broadest and most flexible portfolios in
the beverage industry. Well-positioned for the super-premium
segment, Three Cents will complement Coca-Cola HBC's existing adult
sparking beverage portfolio, which includes the established adult
brands, Schweppes and Kinley.
Enquiries
Coca--Cola HBC Group
Investors and Analysts:
Joanna Kennedy Tel: +44 7802 427505
Head of Investor joanna.kennedy@cchellenic.com
Relations
Jemima Benstead Tel: + 44 7740 535130
Investor Relations jemima.benstead@cchellenic.com
Manager
Marios Matar Tel: +30 697 444 3335
Investor Relations marios.matar@cchellenic.com
Manager
Media:
David Hart Tel: +41 41 726 0143
Head of Communication 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
715 million consumers across a broad geographic footprint of 29
countries on three continents. Our portfolio is one of the
strongest, broadest and most flexible in the beverage industry,
offering consumer-leading beverage brands in the sparkling, juice,
water, sport, energy, plant-based, ready-to-drink tea, coffee,
adult sparkling and premium spirits categories. These beverages
include Coca-Cola, Coca-Cola Zero, Schweppes, Kinley, Costa,
Valser, Romerquelle, Fanta, Sprite, Powerade, FuzeTea, Dobry,
Cappy, Monster and Adez. We foster an open and inclusive work
environment amongst our 33,000 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
https://www.coca-colahellenic.com.
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