Coca-Cola Hellenic Bottling Co. and The Coca-Cola Co. are to jointly buy 100 percent of Serbian fresh juice producer Fresh and Co., Coca-Cola HBC said Friday. The net amount to be paid for the purchase is Ђ19.5 million (US$23.5 million), Coca-Cola HBC said.
The final purchase price is subject to certain adjustments and includes the settlement of some of Fresh and Co.'s financial obligations, Coca-Cola HBC said. The acquisition includes a production facility at Subotica and the juice and nectar brands "Next" and "Su-Voce."
The deal is subject to regulatory approval, but is expected to be completed by the end of February. The purchase is in line with Coca-Cola HBC's strategy to expand in the non-carbonated nonalcoholic beverages market.
Coca-Cola HBC is the world's third-largest bottler of products for U.S.-based Coca-Cola Co., which has a 24 percent stake in the Greek company.
On Thursday, Coca-Cola HBC said it will restructure Greek operations as part of a strategy to improve efficiency, with around 150 redundancies out of a total Greece-based work force of 2,400 employees, reports the AP. N.U.
The Russian Armed Forces returned to strategic positions of the first "Surovikin line” east of Robotyne in the Zaporizhzhia direction of hostilities