ITALY – Coca-Cola Hellenic Bottling Company (HBC) Italia has secured a deal to acquire natural mineral water and sparkling beverage company, Lurisia for €88 million (US$97m).
Established in 1940, Acque Minerali – better known as Lurisia- produces and distributes beverages under the Lurisia brand in various flavours including Chinotto, Gazzosa, Aranciata and Aranciata Rossa, as well as Aranciata Amara, Limonata and Tonica.
In the water category, the company offers still and sparkling water in PET and glass packaging, sourced from springs in Monte Pigna. The company has been a pioneer in offering water products in bell-shaped glass bottles, designed by Sottsass Associati.
The acquisition of the will allow the expansion of Coca-Cola HBC’s existing beverage portfolio in Italy to offer consumers an authentic Italian brand.
The transaction will see Coca-Cola HBC Italia acquire the company from its shareholders, which include the Invernizzi family, Eataly Distribuzione and private equity fund IDeA Taste of Italy, managed by DeA Capital Alternative Funds SGR.
Under the deal, Piero Bagnasco, chief executive of Lurisia, and Alessandro Invernizzi will remain on the board of directors of Acque Minerali.
Coca-Cola HBC anticipates that the acquisition of Lurisia brand will complement its existing beverage portfolio in Italy while supporting the company’s drive to further premiumise its portfolio and offer consumers an authentic Italian brand with strong heritage and well-rooted Italian origins.
Financial details are subject to customary closing adjustments with the transaction expected to be completed by the end of 2019.The acquisition is being made in conjunction with The Coca‑Cola Company.
The deal is however being implemented by Coca-Cola HBC’s wholly-owned subsidiary, Coca-Cola HBC Italia.
The expansion comes at a time when the company has unveiled plans of launching the recently acquired Costa Coffee in ten of its twenty-eight markets across Europe next year.
This will take the ready-to-drink coffee brand, recently launched in the UK in countries including Bulgaria, Greece, Hungary, Poland, Romania, Russia and Switzerland.
As Coca-Cola strives to become a total beverage company, the company is seeking to address the growing consumer and customer needs across multiple channels and occasions, in line with its beverage partner vision.