Coca-Cola HBC agrees to acquire Three Cents, a fast growing, super-premium adult sparkling beverage and mixer business
Zug, Switzerland – 9 August 2022 – Coca-Cola HBC AG ("Coca-Cola HBC") announced today that its wholly-owned subsidiary, CC Beverages Holdings II B.V., has reached an agreement to acquire ESM Effervescent Sodas Management Limited (”Company” or “Three Cents”) from S.I.C.C Holding Limited, a wholly-owned subsidiary of IDEAL Holdings SA, a publicly-listed company in Greece (the “Transaction”). The agreed enterprise value amounts to ¤45 million, subject to certain closing adjustments. Completion of the Transaction is expected in the second half of 2022 and is subject to customary closing conditions and regulatory approvals.
The Company is the owner of the popular super-premium mixer product line under the Three Cents brand, offering artisanal beverages crafted without preservatives or artificial colourings. Three Cents was founded in 2014 by founders George Bagos, Dimitris Dafopoulos, George Tsirikos and Vassilis Kalantzis, a group of forward-looking bar tenders and F&B professionals. Since inception, the brand has quickly established itself as a super-premium, adult sparkling beverage and mixer for long-drinks and cocktails. As part of the Transaction, its founding team will remain with the Company and will continue to promote the brand, providing their leadership and vision.
The adult super-premium sparkling beverage and mixer category represents an exciting growth opportunity and is an important pillar of Coca-Cola HBC's 24/7 beverage partner strategy. Coca-Cola HBC caters to a growing range of consumer tastes and consumption occasions with one of the broadest and most flexible portfolios in the beverage industry. Well-positioned for the super-premium segment, Three Cents will complement Coca-Cola HBC's existing adult sparking beverage portfolio, which includes the established adult brands, Schweppes and Kinley.
Coca‑Cola HBC Group
ABOUT COCA-COLA HBC
Coca-Cola HBC is a growth-focused consumer packaged goods business and strategic bottling partner of The Coca-Cola Company. We create value for all our stakeholders by supporting the socio-economic development of the communities in which we operate and we believe building a more positive environmental impact is integral to our future growth. Together, we and our customers serve 715 million consumers across a broad geographic footprint of 29 countries on three continents. Our portfolio is one of the strongest, broadest and most flexible in the beverage industry, offering consumer-leading beverage brands in the sparkling, juice, water, sport, energy, plant-based, ready-to-drink tea, coffee, adult sparkling and premium spirits categories. These beverages include Coca-Cola, Coca-Cola Zero, Schweppes, Kinley, Costa, Valser, Romerquelle, Fanta, Sprite, Powerade, FuzeTea, Dobry, Cappy, Monster and Adez. We foster an open and inclusive work environment amongst our 33,000 employees and we are ranked among the top sustainability performers in ESG benchmarks such as the Dow Jones Sustainability Indices, CDP, MSCI ESG and FTSE4Good.
Coca-Cola HBC has a premium listing on the London Stock Exchange (LSE:CCH) and is listed on the Athens Exchange (ATHEX:EEE). For more information, please visit https://www.coca-colahellenic.com.