Coca-Cola HBC, which bottles Coca-Cola products in Europe, has agreed to buy Italian mineral water maker and sparkling beverage company Lurisia in a deal worth €88 million, it said on Wednesday.
The acquisition, made together with global beverage group Coca-Cola, will allow the London-listed group to add premium Italian brands to its portfolio, which includes iced teas and plant based drinks.
'The acquisition of Lurisia complements the existing Coca‑Cola HBC beverage portfolio in Italy and is a strong fit for the company’s 24/7 total beverage partner strategy,' the company said. 'It supports the company’s drive to further premiumise its portfolio and offer consumers an authentic Italian brand with strong heritage and well-rooted Italian origins.'
Local Ingredients
In addition to mineral water sourced from a spring in the mountains, Lurisia sells sparkling beverages based on ingredients sourced in Italy such as Chinotto and Gazzosa.
Coca-Cola HBC will buy the company from a group of investors, which include Italian private equity fund IDeA Taste of Italy and food retailer Eataly Distribuzione.
As part of the transaction, Lurisia CEO Piero Bagnasco and Alessandro Invernizzi will remain on the board of the company, the buyer said in a statement.
News by Reuters. Click subscribe to sign up to ESM: European Supermarket Magazine.
