Coca-Cola HBC to Acquire Italian Water and Sparkling Beverages Company in €88 Million Deal
Coca‑Cola HBC has agreed to acquire Acque Minerali, a privately-held natural mineral water and adult sparkling beverages business based in Italy. The acquisition is being made in conjunction with The Coca-Cola Company, in-line with previous similar acquisitions. The total enterprise value payable by Coca‑Cola HBC and The Coca‑Cola Company, subject to customary closing adjustments, amounts to €88 million. Completion of the acquisition is subject to certain conditions and is expected by the end of 2019.
Founded in 1940 in Roccaforte Mondovì, Northwest Italy, Acque Minerali is a producer and distributor of premium, natural mineral water and adult sparkling beverages under the Lurisia brand. In the water category, the company offers still and sparkling water in PET and glass packaging, sourced from springs 1,400 meters above sea level in Monte Pigna. The company has been a pioneer in offering water products in bell-shaped glass bottles, designed by the Italian architecture and design studio Sottsass Associati. In the adult sparkling segment, Lurisia offers beverages inspired by authentic Italian recipes, based on ingredients sourced within the country. They are offered in the following flavours: Chinotto, Gazzosa, Aranciata, Aranciata Rossa, Aranciata Amara, Limonata and Tonica. Lurisia products enjoy high brand awareness and are associated with quality, authenticity, taste and the Italian lifestyle. Since 2008, the company has been a partner in the main events organised by Slow Food, a non-profit organisation set up in 1986 in Italy promoting local food and traditional cooking.
The acquisition of Lurisia complements the existing Coca-Cola HBC beverage portfolio in Italy and is a strong fit for the company’s 24/7 total beverage partner strategy. It supports the company’s drive to further premiumise its portfolio and offer consumers an authentic Italian brand with strong heritage and well-rooted Italian origins.
Offering ready-to-drink beverages in the sparkling, juice, water, sport, energy, tea and coffee categories, Coca-Cola HBC has annual sales of more than 2 billion unit cases. It has a broad geographic footprint with operations in 28 countries serving a population of more than 600 million people.
