Coca-Cola HBC, which bottles Coca-Cola products in Europe, has agreed to buy Italian mineral water maker and sparkling beverage company Lurisia in a deal worth 88 million euros ($97 million), it said on Wednesday.
The acquisition, made together with global beverage group Coca-Cola, will allow the London-listed group to add premium Italian brands to its portfolio, which includes iced teas and plant based drinks.
In addition to mineral water sourced from a spring in the mountains, Lurisia sells sparkling beverages based on ingredients sourced in Italy such as Chinotto and Gazzosa.
Coca-Cola HBC will buy the company from a group of investors, which include Italian private equity fund IDeA Taste of Italy and food retailer Eataly Distribuzione.
As part of the transaction, Lurisia CEO Piero Bagnasco and Alessandro Invernizzi will remain on the board of the company, the buyer said in a statement.
By Francesca Landini
Source: Reuters
Local industry stakeholders under Food Drink Ireland (FDI) have called for targeted support measures in the sector that will help businesses stay buoyant during the transitional period.
Diageo has announced that the company’s CFO Kathryn Mikells will leave the business later this year and will be replaced by Lavanya Chandrashekar.
Schlosberg – who has resigned his positions as president, CFO, COO and secretary of Monster Beverage – will serve as co-CEO alongside Rodney C. Sacks.