Green Cola and Chitos merge to expand presence internationally in beverage sector

GREECE – Green Cola, a carbonated soft drink developed by the Greek beverages company Green Cola Hellas, has merged with Chitos to expand internationally in the better-for-you beverages sector.

under the name “Green Beverages Group PLC” (“Green Beverages”) based in the United Kingdom, the companies aim to exploit the expanded portfolio of non-alcoholic beverages, by strengthening the presence of their products.

They intend to expand their presence in the foreign markets where they are already active including America, Europe, Middle East, but also enter new geographic markets such as Asia, Australia, Latin, and South America.

The new joint venture will be capitalizing on growth opportunities at a global level, as a result of consumer trends that are increasingly turning to natural and healthy products.

According to Nielsen IQ, 48% of global consumers make proactive health and wellness choices on a regular basis, which has resulted in 17% growth in the global low-calorie beverage segment.

The survey said the choices by consumers have become 10 percentage points higher than the overall category.

Green Beverages in London will oversee direct access to international investment funds, which will be directed primarily to individual markets abroad but also to the financing of the group's joint investment and development plans.

This plan also includes the intention to introduce Green Beverages to the foreign stock market.

The new company’s vision is to become the most innovative company in the world in the field of healthy (better for you) non-alcoholic beverages, creating value for society.

In addition, the new joint venture aims to better the sustainability efforts of the two companies by expanding into other innovative bottled water categories.

Periklis Venieris, CEO of Green Beverages Group, said: “By combining Green Cola’s innovative, disruptive approach with the strong heritage of the Chitos Group, we believe we can develop into one of the world’s leading non-alcoholic beverage companies.”

Under the Group, we have the scale and expertise to further accelerate our growth around the world. I’m excited to be working with such a talented group of people and look forward to the opportunities ahead.”

With well-established, best-in-class production facilities across the country, one of which has the fastest fully automatic production line in Europe, Chitos A.V.E. and Green Cola Hellas S.A. will continue their activity as autonomous legal entities.

The production of both companies’ high-quality beverages will continue to take place in Greece, where the Green Cola group operates eight bottling lines.

The group has also a dozen third-party production facilities globally, which through the merger, they will be further strengthened.

Together, Green Cola and Chitos have routes to market in 46 countries around the world.

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