Coca-Cola HBC acquires minority stake in Casa Del Caffè Vergnano
Coca-Cola HBC AG announced that on 25 June, its wholly-owned subsidiary CC Beverages Holdings II BV (“CCH Holdings) reached an agreement to acquire a 30% equity shareholding in Casa Del Caffè Vergnano SpA, a premium Italian coffee company. The acquisition is expected to close in the second half of 2021 and is subject to customary closing conditions and regulatory approvals.
Furthermore, Coca-Cola HBC and Caffè Vergnano will enter into an exclusive distribution agreement for Caffè Vergnano’s products in Coca-Cola HBC’s territories outside of Italy (together, the “Proposed Transaction”). CCH Holdings will be represented on the board of directors of Caffè Vergnano and have customary minority decision-making and governance rights. Financial details of the Proposed Transaction were not disclosed.
Caffè Vergnano is a family-owned Italian coffee company headquartered in Santena, Italy. It is one of the oldest coffee roasters in Italy with roots dating back to 1882. Its product offering consists of truly premium, high-quality coffee that represents Italian heritage and authenticity at its best. Caffè Vergnano’s portfolio includes traditional espresso in various blends, packages, and formats such as beans, roast and ground coffee and single portioned pods. In 2020, the company sold approximately 7,000 tonnes of coffee in more than 90 countries worldwide.
The Proposed Transaction represents an important milestone in Zug, Switzerland-based Coca-Cola HBC’s vision of being the leading 24/7 beverage partner across its markets. Caffè Vergnano is highly complementary to its existing Costa Coffee proposition and will allow Coca-Cola HBC to address an even wider range of consumer tastes and segments. Furthermore, the partnership will increase Coca-Cola HBC’s relevance with its customers within the most attractive segments of the coffee category, while providing Caffè Vergnano with significant expansion potential through Coca-Cola HBC’s leading route to market network and commercial capabilities.
“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,” said Zoran Bogdanovic, CEO, Coca-Cola HBC. “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.”
Franco Vergnano, CEO, and Carlo Vergnano, chairman of the board of directors of Caffè Vergnano, commented, “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.”
Coca-Cola HBC is a strategic bottling partner of The Coca-Cola Company, which, with its customers serves more than 600 million consumers across a broad geographic footprint of 28 countries on three continents. Its portfolio is one of the broadest in the beverage industry, offering brands in the sparkling, juice, water, sport, energy, plant-based, ready-to-drink tea, coffee, adult sparkling, and premium spirits categories. These brands include Coca-Cola, Coca-Cola Zero, Schweppes, Kinley, Costa Coffee, Valser, Romerquelle, Fanta, Sprite, Powerade, FuzeTea, Dobry, Cappy, Monster and Adez.
For more information, visit: www.coca-colahellenic.com.