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28 Jun 2021 | 07:44

Coca-Cola HBC to buy 30% stake in Caffe Vergnano

(Sharecast News) - Coca-Cola HBC has agreed to buy a 30% stake in premium Italian coffee company Caffe Vergnano for an undisclosed sum. The acquisition, which is being made through its wholly-owned subsidiary CCH Holdings, is expected to compete in the second half of the year. In addition, Coca-Cola HBC and Caffe Vergnano will enter into an exclusive distribution agreement for Vergnano's products in Coca-Cola's territories outside of Italy.

Caffe 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.

Coca-Cola HBC chief executive Zoran Bogdanovic said: "We are grateful for the trust being placed in us by the Vergnano family and are excited by the opportunities ahead with this terrific brand.

"With Caffe Vergnano, we are well positioned to build a total coffee portfolio that caters for a diverse range of consumer preferences. We are respectful of the company's 140-year history and the dedication and passion of the four generations that created such a rich and renowned coffee brand, synonymous with the authentic Italian coffee experience. Our investment in Caffe Vergnano is aligned with The Coca-Cola Company as we have worked together on this opportunity."
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