Coca-Cola HBC Serbia is pleased to inform the public that Coca-Cola HBC AG started the acquisition process of the leading domestic confectionery company “Bambi” from the “Mid Europa Partners” fund worth 260 million EUR. The final agreement will be defined through final harmonization, and the acquisition remains subject to the normal conditions and approvals of the competent authorities, which is why the process itself is expected to be completed in the second quarter of 2019. Our strategic intention is that this acquisition will enable the company to develop new development opportunities in Serbia and the region, as well as the possibility of expanding into complementary product categories.
Chief Executive Officer of Coca-Cola HBC AG, Zoran Bogdanović, said: “This acquisition represents an excellent opportunity for creating additional value for our company, customers and shareholders. We will add to our existing portfolio of leading brands of beverages well-known, complementary brands, as well as innovative skills and knowledge. This will further strengthen our relevance in the market and the relationship with customers and give us the opportunity to increase our presence in key consumption opportunities, such as the beginning of the day, eating on the go and snacks and refreshing at home. ”
This acquisition will add to the portfolio of our company in Serbia, which is also one of the fastest growing markets of Coca-Cola HBC globally, to add leading domestic market brands in a very significant and above all complementary category. We also believe that this acquisition offers the possibility of synergy through joint promotions and complementary innovations. Bambi’s significant value is a strong distribution network, including cooling distribution in strategically important channels, such as traditional retail and HoReCa.
“After marking half a century since the beginning of Coca-Cola production in Serbia, after continuous growth and winning the prestigious Andrew David Cup for three years in a row for the most successful business operation within the Coca-Cola HBC Group, we are sure that our team is ready to support this important decision of the company to step into the category of snacks and confectionery products. This acquisition is a confirmation that Serbia is a very attractive destination for foreign investments, but also a testament to the determination of our company, Coca-Cola HBC Serbia, to remain an integral part of the local community in which we operate and continue to develop our business in this country. I am sure that our global brands, knowledge gained in a number of markets, as well as commitment to the local community, combined with Bambi’s leading brands in the confectionery market, will be a real winning combination! Additionally, with great joy we welcome all new colleagues from Bambi to our Coca-Cola HBC family, “said Svetoslav Atanasov, general manager of Coca-Cola HBC Serbia and Montenegro.