Coca-Cola Hellenic Bottling to acquire Russian facility
July 05, 2007
by Eric Schroeder
ATHENS, GREECE — Coca-Cola Hellenic Bottling Co. S.A. (C.C.H.B.C.), one of the world’s largest bottlers of Coca-Cola products, agreed to acquire 100% of Aquavision, a newly constructed beverage production facility in Russia, for €191.5 million ($260 million). Located near Moscow, the facility has four production lines, warehousing facilities and office space.
According to C.C.H.B.C., the facility is capable of producing a full range of non-alcoholic beverages, including carbonated soft drinks, fruit drinks and juices, bottled water, ready-to-drink tea and sports drinks. Also included in the transaction was a line of juice products sold under the botaniQ trademark.
"This acquisition provides us with immediate access to state-of-the-art production facilities and significant expanded capacity to meet the growing consumer demand for our products, allowing us to further build upon our current leadership position in this high potential market," said Doros Constantinou, managing director of C.C.H.B.C.
The transaction will be funded through a combination of cash and short-term debt and is subject to regulatory approval, said C.C.H.B.C.