Coca-Cola acquires biggest Serbian confectionery business
The deal will be closed in the second quarter of 2019 and is expected to worth €260mEuropost
Soft drink bottler Coca-Cola HBC announced its acquisition of Serbian biscuit, confectionery and snack maker Bambi for an enterprise value of €260m from private equity investor Mid Europa Partners. The deal is expected to close in the second quarter of 2019, a company statement reads.
Bambi was founded back in 1967 and is famous for producing biscuits, wafers and savory snacks. Among the brands it includes are Bambi, Plazma, Wellness, Zlatni Pek and Josh. In 2018, the comapny recorded revenues of around €80m, of which more than two-thirds were generated in Serbia and the rest predominantly in the Western Balkans.
Thus, the Swiss-based company, which bottles and sells Coca-Cola beverages in 28 countries, said the acquisition adds “market-leading” brands in a relevant, adjacent category to its portfolio in Serbia and in the Western Balkans, which are among its fastest-growing territories.
“This acquisition represents an excellent opportunity to create additional value for Coca-Cola HBC, its customers and shareholders. It adds iconic, complementary consumer brands to our portfolio of leading beverage brands, as well as consumer-focused innovation capabilities,” says Zoran Bogdanovic, CEO of Coca-Cola HBC.
Bogdanovic also added that Bambi offers opportunities for revenue synergies through cross-promotion and complementary innovation and cost efficiencies. The acquisition will also bring a “strong” distribution network and product portfolio in channels such as traditional retail and the food service industry.