Coca-Cola HBC based in Switzerland announced the acquisition of Serbia’s leading confectionery, biscuit and snack company Bambi for €260 M, according to a press release from 18 February. Subject to regulatory approvals and fulfillment of closing conditions, the deal is expected to end by the second quarter of 2019.
By acquiring the Bambi business, Coca-Cola HBC has the opportunity to add market-leading iconic brands in a relevant, adjacent category to their portfolio in their fastest growing territories Serbia and Western Balkans. The acquisition will bring also a strong distribution network and product portfolio in strategically important channels such as traditional retail and HoReCa.
Coca-Cola HBC is one of the largest Coca-Cola bottlers covering 28 countries including Ireland, Italy, Russia, and Nigeria. The company sells 2 Bn unit cases annually under 197 brands primarily non-alcoholic ready to drink beverages in the sparkling, juice, water, sport, energy, tea and coffee categories. According to Coca-Cola’s CEO, Zoran Bogdanovic “This acquisition represents an excellent opportunity to create additional value for Coca-Cola HBC, its customers, and shareholders. It further strengthens our relevance with customers and allows us to increase our presence in key consumption occasions, such as the start of the day, on the go and at home snacking and refreshment.”
The Serbian, leading regional confectionery company Bambi manufactures a wide range of products, including biscuits, wafers, and savoury snacks. Company’s brands include Bambi, Wellness, Zlatni Pek, Josh and its main biscuit brand, Plazma, which ranks first in Serbia’s brand recognition. In 2018, Bambi recorded revenues of approximately €80 M, of which more than two-thirds were generated in Serbia and the rest predominantly in the Western Balkans.