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Coca-Cola Hellenic Bottling Company (HBC) is set to acquire Brown-Forman Finland Oy's Finlandia vodka brand, marking a strategic $220 million move into the premium spirits market.
The acquisition is seen as a strategic move that opens up opportunities in the premium spirits market. Interestingly, Coca-Cola HBC has been distributing Finlandia for over 17 years; the acquisition, therefore, is a significant leap toward strengthening its reputation in the premium spirits market.
With Finlandia contributing annual volumes of 2.7 million 9L cases globally, of which more than 60% originate from Coca-Cola HBC's geographic footprint, the acquisition opens up new opportunities for premium and super-premium Non-Alcoholic Ready-To-Drink (NARTD) products. Additionally, it strengthens partnerships with customers in strategically important channels such as HoReCa and further diversifies Coca-Cola HBC's portfolio.
As a growth-focused consumer packaged goods business and strategic bottling partner of The Coca-Cola Company, Coca-Cola HBC's portfolio boasts an array of unique beverage brands in sparkling, juice, water, sport, energy, plant-based, ready-to-drink tea, coffee, adult sparkling, and premium spirits categories, including Coca-Cola and Coca-Cola Zero, Schweppes, Kinley, Costa, Valser, Romerquelle, Fanta, Sprite, Powerade, Aquarius, Vitamin Water, FuzeTea, Cappy, Monster, Burn, Caffè Vergnano and Adez. The acquisition of Finlandia is a strategic move towards cementing Coca-Cola HBC's position as the leading 24/7 beverage partner.
Brown-Forman Corporation has been enriching the quality of life for over 150 years. Their responsibility to produce quality beverage alcohol brands, including Jack Daniel's Tennessee Whiskey, Gentleman Jack, Woodford Reserve, Old Forester, and many more, has earned them global recognition.
Finlandia, one of its signature brands, is bottled by Anora Group under a long-term production services agreement and distributed by Coca-Cola HBC. The recent acquisition of Finlandia by Coca-Cola HBC presents a unique and regionally relevant opportunity that will accelerate the growth of their on-premise business across various countries.
The transaction, expected to be completed in the latter half of 2023, is subject to regulatory approvals.
Photo: Richard Brutyo/Unsplash
