Coca-Cola HBC, the second largest Coca-Cola beverage maker outside the US, has announced its agreement to acquire Brown-Forman Finland Oy, the owner of the Finlandia vodka brand, from Brown-Forman Netherlands BV for a whopping $220 million. This acquisition is part of Coca-Cola HBC’s strategy to expand its business with premium spirits. The news was reported by the Reuters agency and quoted by News.ro.
Founded in 1970, Finlandia is a renowned vodka brand in Central and Eastern Europe. It sells approximately 2.7 million cases of vodka annually, with each case containing nine one-liter bottles. Finlandia was previously owned by Altia and was sold to Brown-Forman in multiple phases between 2000 and 2004.
Coca-Cola HBC has stated that the acquisition will be carried out through its subsidiary, CC Beverages Holdings II BV, and is expected to be completed in the second half of this year. Zoran Bogdanovic, the CEO of Coca-Cola HBC, expressed his satisfaction with the purchase, stating, “After being associated with the distribution of Finlandia for 17 years in several markets, we are pleased to purchase this unique and regionally relevant opportunity that will support our acceleration of business in our markets.”
Coca-Cola HBC is a London-listed company, with the Coca-Cola corporation holding a stake of approximately 21%. In Romania, Coca-Cola HBC Romania, a member of the Coca-Cola Hellenic Group, is the largest company in the non-alcoholic beverage industry. It is headquartered in Voluntari and operates three bottling plants in Ploiesti, Timisoara, and Poiana Negrii.
This acquisition marks a significant move for Coca-Cola HBC as it expands its presence in the premium spirits market and strengthens its position in the beverage industry.
What potential benefits and challenges does Coca-Cola HBC face as it enters the premium spirits market through the acquisition of Finlandia vodka
Coca-Cola HBC, the second largest Coca-Cola beverage maker outside the US, has made an impressive announcement. They have agreed to acquire Brown-Forman Finland Oy, the owner of the renowned Finlandia vodka brand, from Brown-Forman Netherlands BV for a staggering $220 million. This strategic acquisition is aimed at expanding Coca-Cola HBC’s presence in the premium spirits market. The news was reported by Reuters and quoted by News.ro.
Established in 1970, Finlandia is a well-known vodka brand in Central and Eastern Europe. It sells approximately 2.7 million cases of vodka every year, with each case containing nine one-liter bottles. Finlandia was previously owned by Altia and was gradually sold to Brown-Forman between 2000 and 2004.
Coca-Cola HBC has stated that the acquisition will be carried out through its subsidiary, CC Beverages Holdings II BV, and is expected to be completed in the second half of this year. Zoran Bogdanovic, the CEO of Coca-Cola HBC, expressed his satisfaction with the purchase, highlighting their long association with the distribution of Finlandia and stating that the acquisition will support their business acceleration in their markets.
Coca-Cola HBC is listed on the London stock exchange, with the Coca-Cola corporation holding a stake of approximately 21%. In Romania, Coca-Cola HBC Romania, a member of the Coca-Cola Hellenic Group, is the leading company in the non-alcoholic beverage industry. It is headquartered in Voluntari and operates bottling plants in Ploiesti, Timisoara, and Poiana Negrii.
This acquisition marks a significant milestone for Coca-Cola HBC as it expands into the premium spirits market and fortifies its position in the beverage industry.
This strategic move by Coca-Cola HBC to acquire Finlandia Vodka brand showcases the company’s dedication towards diversifying its portfolio. With a $220 million investment, they are positioning themselves strongly in the spirits market. Exciting times ahead for Coca-Cola HBC!