Coca-Cola Hellenic Bottling Company (HBC) now acquires a 30% equity shareholding in Casa Del Caffè Vergnano, a premium Italian coffee company that’s one of the oldest, dating back to 1882. This established retail coffee company is known for their high-quality coffee products that best represent Italian heritage and authenticity.
The completion of the acquisition is set to happen in the second half of this year, now discussing closing conditions and regulatory approvals. The two companies are going into an exclusive distribution agreement of Caffè Vergnano’s products in Coca-Cola HBC’s markets outside of Italy.
This is another big step into the global coffee market for Coca-Cola HBC, after its acquisition of the UK’s Costa Coffee in 2018. The company aims to be the “leading 24/7 beverage partner” in all of its markets. Zoran Bogdanovic, CEO of Coca-Cola HBC, stated:
We are grateful for the trust being placed in us by the Vergnano family and are excited by the opportunities ahead with this terrific brand. With Caffè Vergnano, we are well-positioned to build a total coffee portfolio that caters for a diverse range of consumer preferences.
Bogdanovic went on to say “We are respectful of the company’s 140-year history and the dedication and passion of the four generations that created such a rich and renowned coffee brand, synonymous with the authentic Italian coffee experience. Our investment in Caffè Vergnano is aligned with The Coca-Cola Company as we have worked together on this opportunity.“
The CEO and Chairman of the Board of Directors of Caffè Vergnano, Franco and Carlo Vergnano, added:
“We are very pleased to welcome Coca-Cola HBC as our new strategic partner to help accelerate our growth ambitions and support the journey of our brands outside our home market. By combining Coca-Cola HBC’s expertise, know-how and critical mass, with our heritage coffee brand, great products and deep knowledge of the industry, we are confident this will prove a powerful partnership in growing our business further.”
This partnership is a win for both parties — Coca-Cola HBC is able to broaden its consumer base as well as strengthen its relevance in the coffee market, while Caffè Vergnano gains the opportunity of reach and expansion through Coca-Cola HBC’s networking channels and commercials. With the sales of at-home coffee surging due to most businesses still either working from home or a hybrid system, Coca-Cola’s acquisition of a retail coffee company offers more business opportunities for the company as well.
