Coca-Cola HBC (Hellenic Bottling Company) Italia has agreed to acquire Italian water and sparkling beverages company, Lurisia in a deal worth €88m.
The deal has been made together with The Coca-Cola Company and will allow the expansion of Coca-Cola HBC’s existing beverage portfolio in Italy to offer consumers an authentic Italian brand. It will also compliment the company’s total beverage partner strategy.
Acque Minerali, better known as Lurisia is a producer and distributor of natural mineral water and adult sparkling beverages with strong Italian origins. Based on ingredients sourced within the country, Lurisia offers sparkling beverages in a variety of flavours such as, Chinotto, Aranciata Rossa and Limonata.
Coca-Cola HBC’s Italian subsidiary will purchase the Italian drinks brand from a group of shareholders, including private equity fund IDeA Taste of Italy, the Invernizzi family and Eataly Distribuzione.
Under the terms of the agreement, Piero Bagnasco, CEO of Lurisia, and Alessandro Invernizzi will remain on the board of directors of Acque Minerali.
Financial details are subject to customary closing adjustments with the transaction expected to be completed by the end of 2019.
© FoodBev Media Ltd 2019