Coca-Cola HBC Subsidiary CCH Holdings Reaches Agreement To Acquire 30% Equity Shareholding In Caffè Vergnano
Coca-Cola HBC AG has announced that its wholly-owned subsidiary CC Beverages Holdings II B.V. (CCH Holdings) has reached an agreement to acquire a 30% equity shareholding in Casa Del Caffè Vergnano S.p.A. (Caffè Vergnano).
Completion of the acquisition is expected in the second half of 2021 and is subject to customary closing conditions and regulatory approvals.
As well as the acquisition, Coca-Cola HBC and Caffè Vergnano will enter into an exclusive distribution agreement for Caffè Vergnano's products in the soft drink producer's territories outside of Italy.
CCH Holdings will be represented on the board of directors of Caffè Vergnano and have customary minority decision-making and governance rights.
The parties have agreed not to disclose the financial details of the agreement.
According to the group, the proposed transaction represents an "important milestone" in 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 the group to address an even wider range of consumer tastes and segments.
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 approx. 7,000 tons of coffee in more than 90 countries worldwide.
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