Coca-Cola HBC open to further acquisition of juice, water brands or new territories – CEO
Coca-Cola HBC said on Thursday it was open to further acquisitions of juice, water brands or new territories, Dimitris Lois, Coca-Cola HBC CEO said following its Q3 update.
CCHBC, which bottles Coca-Cola products in 28 mostly European countries and Nigeria, said it was focused on driving a recovery in some markets that are struggling.
“As this happens, we will become more active in M&A,” Lois said, noting that the company would be interested in adding water and juice brands to its business in existing markets.
“With regards to geographical expansion, we have said that it’s something we would consider subject to any expansion being in line with our growth aspirations and financially sound,” Lois said, stressing, however, that any such moves are not entirely in its hands, but coordinated by Coca-Cola.
Atlanta-based Coke announced early in October it would exercise its Change-of-Control Clause to buyback SABMiller’s 57% stake in Coca-Cola Beverages Africa from AB InBev and refranchise it to one or more of its bottler partners. Coca-Cola HBC has often been mentioned by analysts as a potential bottler partner for SABMiller’s former stake in Coca-Cola Beverages Africa.
According to analyst estimates, the stake is worth roughly $4bn.