Coca-Cola HBC has acquired Serbian confectionery company Bambi in a deal worth €260 million.
Established in Serbia in 1967, Bambi manufactures a range of products, including biscuits, wafers and savoury snacks. Its brands include Bambi, Plazma, Wellness, Zlatni Pek, and Josh.
In 2018, Bambi recorded revenues of approximately €80 million, of which more than two-thirds were generated in Serbia and the rest predominantly in the Western Balkans.
Coca-Cola 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.
Bambi brands include Plazma, Wellness, Zlatni Pek, and Josh.
It added that Bambi offers opportunities for revenue synergies through cross-promotion and complementary innovation and cost efficiencies. It will also bring a “strong” distribution network and product portfolio in channels such as traditional retail and the foodservice industry.
Coca‑Cola HBC CEO Zoran Bogdanovic, who was appointed to his role in 2017, said: “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.
“It further strengthens our relevance with customers and allows us to increase our presence in key consumption occasions, such as the start of the day, on the go and at home snacking and refreshment.”
By Jules Scully
Source: FoodBev
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