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Coca‑Cola HBC to buy Lurisia for for 88 million euros

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Christian Fernsby ▼ | September 19, 2019
Coca‑Cola HBC announced that it has entered into an agreement for the acquisition of Acque Minerali S.r.l., a privately-held natural mineral water and adult sparkling beverages business in Italy.
Coca‑Cola HBC
Acquisition   Coca‑Cola HBC
The acquisition is being made through Coca‑Cola HBC’s wholly-owned subsidiary, Coca‑Cola HBC Italia S.r.l.

Topics: Coca‑Cola HBC Lurisia

The acquisition is being made in conjunction with The Coca‑Cola Company, in-line with previous similar acquisitions.

The selling shareholders are the private equity fund IDeA Taste of Italy, managed by DeA Capital Alternative Funds SGR S.r.l., the Invernizzi family, and Eataly Distribuzione S.r.l.

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.

As part of the Transaction, Piero Bagnasco, CEO of Lurisia, and Alessandro Invernizzi will remain on the board of directors of Acque Minerali.

Both are representatives of two of the selling shareholders.