Coca-Cola HBC to sell 50% stake in Neptuno Vandenys
Coca-Cola HBC has agreed to sell a 50% stake in Lithuanian bottled water firm, Neptuno Vandenys, to The Coca-Cola Co for about €10m.
Subject to customary closing conditions as well as regulatory approvals, the transaction is likely to be completed in the fourth quarter of this year.
Coca-Cola HBC's subsidiary UAB Coca-Cola HBC Lietuva (CCHBC Lithuania) acquired Neptunas last December.
Neptunas’ bottled water products include natural mineral water, sparkl, lemon flavor, mint flavor, sport and also a variant sold in glass bottles.
Headquartered in Switzerland’s Zug, Coca-Cola HBC has a sales volume which exceeds two billion unit cases. It has operations in 28 countries across the continents of Europe, Asia and Africa.
Considered to be one of the leading bottlers of The Coca-Cola Company, Coca-Cola HBC claims to serve approximately 594 million customers.
Its portfolio includes a range of 136 ready to drink non-alcoholic beverages in the sparkling, water, juice, energy, sport, coffee and tea segments.
With the acquisition of Neptunas bottled water brand, Coca-Cola HBC expanded its water portfolio which already has more than 30 brands falling in the natural mineral water, spring water and processed water categories. Its water brands include Valser, Rosa, Bob-aua, Natur Aqua, AYPA and eva.
Image : Coca-Cola HBC Lietuva, a subsidiary of Coca-Cola Hellenic completed the acquisition of Neptuno Vandenys, UAB. Photo: courtesy of THE COCA-COLA COMPANY.