Coca-Cola HBC, the Swiss-based soft drinks bottler, has announced it has reached an agreement to acquire to acquire Brown-Forman Finland, owner of the Finlandia vodka brand, for $220 million.
The company said the acquisition would strengthen its portfolio across more of its markets, enhancing its position as a leading 24/7 beverage partner through mixability opportunities with non-alcoholic products and partnerships with customers in Horeca channels.
Finlandia was established in 1970 and is a leading vodka brand in Central and Eastern Europe with annual volumes of 2.7 million 9L cases globally, of which more than 60% is being generated within Coca-Cola HBC’s geographic footprint.
Commenting on the acquisition, Zoran Bogdanovic, : “Having been associated with the distribution of Finlandia for 17 years in several markets, we are excited by this unique and regionally relevant opportunity that will support the acceleration of our on-premise business across more of our markets”.
The acquisition is being made by Coca-Cola HBC’s wholly-owned subsidiary CC Beverages Holdings II BV and is expected to complete in the second half of this year.
Source: Coca-Cola HBC