One of Coca-Cola’s biggest bottlers has acquired a 30 per cent stake in a 140-year-old Italian coffee roaster as the fizzy drinks company boosts its foothold in the lucrative coffee market.
Coca-Cola HBC, a FTSE 100 constituent with a presence in 28 countries, said that alongside the purchase of a stake in Casa Del Caffè Vergnano, it would enter an exclusive distribution deal for the brand’s products in its 27 territories outside Italy.
The deal comes after the acquisition in 2019 by The Coca-Cola Company itself of Costa coffee from Whitbread in a £3.9 billion deal. Zoran Bogdanovic, 49, chief executive of Coca-Cola HBC, said that the investment was “aligned with the Coca-Cola Company as we have worked together on this opportunity”.
Coca-Cola HBC, which
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