Coca Cola Hellenic buys Bulgarian mineral water company
April 04, 2005
by FoodBusinessNews.net Staff
ATHENS, GREECE — Coca Cola Hellenic Bottling Co. SA said Monday it and Atlanta-based The Coca-Cola Co. have jointly bought 100% of Bulgarian mineral water company, Bankia, for an undisclosed sum, the Associated Press reported.
Bankia's assets include production facilities as well as the Bankia brand, the A.P. said.
The move is in line with the Greek company's strategy of expanding into the non-carbonated drinks sector. On Thursday, Coca Cola H.B.C. announced that the two companies bought the Russian fruit juice company Multon.
Coca Cola H.B.C. has operations in 26 countries, including many parts of Europe and Russia. The Coca Cola Co. has an indirect 24% stake in the Greek bottler, the A.P. said.