Coca‑Cola HBC, Europe’s leading Coca-Cola bottler, has announced it is strengthening in the bottled water space with the acquisition of Acque Minerali, a producer and distributor of mineral water and adult-oriented sparkling beverages under the Lurisia brand.
The firm said the acquisition was being made in conjunction with Coca‑Cola Co, and that they will together pay €88 million ($97 million) for the Italian water brand.
Founded in 1940 in Roccaforte Mondovi, northwest Italy, Acque Minerali offers still and sparkling water in PET and glass packaging, as well as flavoured drinks said to be inspired by authentic Italian recipes, based on ingredients sourced within the country.
The acquisition of Lurisia complements Coca-Cola’s existing portfolio in Italy, the firm said in a statement.
“It supports the company’s drive to further premiumise its portfolio and offer consumers an authentic Italian brand with strong heritage and well-rooted Italian origins”, it added.
The deal is expected to close by the end of 2019.
Source: Coca-Cola HBC