Coca-Cola HBC To Buy Finlandia Vodka Owner

By: Trademagazin editor Date: 2023. 06. 19. 09:30

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Coca-Cola HBC AG said that it plans to buy Finlandia vodka brand owner Brown-Forman Finland Oy from Brown-Forman Netherlands BV for $220 million (€201.2 million), as the bottler expands its premium spirits business.

Finlandia, established in 1970, is a leading vodka brand in Central and Eastern Europe, Coca-Cola HBC said in a statement.

The bottler said the acquisition was being done through its wholly owned unit CC Beverages Holdings II BV and that deal completion was expected in the second half of 2023.

‘Regionally Relevant Opportunity’

“Having been associated with the distribution of Finlandia for 17 years in several markets, we are excited by this unique and regionally relevant opportunity that will support the acceleration of our on-premise business across more of our markets,” commented Zoran Bogdanovic, CEO of Coca-Cola HBC.

Bogdanovic added that the complementary portfolios of both Coca-Cola HBC and Brown-Forman Finland creates an opportunity to develop products for a “broad range of 24/7 consumption occasions, particularly socialising moments.

Finlandia boasts annual volumes of 2.7 million nine-litre cases globally. The deal is subject to regulatory approval and other customary closing conditions, Coca-Cola HBC said.

ESM