Following its initial announcement on 18 February 2019, Coca-Cola HBC AG (LON: CCH) has confirmed the completion of the acquisition of Bambi, Serbia’s leading confectionery brand. Coca-Cola HBC will now include the Bambi business in its consolidated financial statements.
The acquisition adds market-leading, iconic brands in a relevant, adjacent category, creating opportunities for revenue synergies, complementary innovation and cost efficiencies. The Bambi business also brings a strong distribution network, including chilled distribution, in strategically important channels such as traditional retail and HoReCa.
Zoran Bogdanovic, CEO of Coca-Cola HBC, commented:
“I would like to welcome the Bambi team to the Coca-Cola HBC family. We have exciting times ahead as together we look to create value for our customers and ourselves, by strengthening our presence in key consumption occasions, such as the start of the day, on the go and at home snacking and refreshment.”