Coca-Cola Hbc to buy 30% stake in Caffè Vergnano
An opportunity for the Italian Company for international growth
Caffè Vergnano signed, on June 25, 2021, an agreement with Coca-Cola Hbc AG for the exclusive distribution of Caffè Vergnano products in the Coca-Cola Hbc territories outside Italy. The agreement also includes the sale by Caffè Vergnano of 30% of its shareholding structure. The parties have agreed not to disclose the financial details of the proposed settlement. This agreement will not impact the Italian market either strategically or at the distribution level and governance will be maintained by the Vergnano family. The agreement represents for Caffè Vergnano an important opportunity for international growth and development of the export business. With Coca-Cola Hbc as its new strategic partner, Caffè Vergnano aims to strengthen the brand's presence outside Italy, thus accelerating the international growth plan. The objective of the partnership is to position the brand with its product range in the premium segment within the global offer of Coca-Cola Hbc and to benefit from the potential for expansion through the Group's network and commercial capabilities.
Franco and Carlo Vergnano, CEO and president of the company respectively, declared: "The signing of this agreement with Coca-Cola Hbc represents an important moment for the evolution of Caffè Vergnano: it is the confirmation of how a family business coherent and aware can achieve great goals without losing its nature and values. And it is in this perspective of continuity that we want to look to the future of our company and of all the partners and collaborators who have traveled this path with us over the years".
Zoran Bogdanovic, CEO of Coca-Cola Hbc, said: "We are grateful for the trust placed in us by the Vergnano family and are excited about the opportunities that await us with this fantastic brand. With Caffè Vergnano, we have the opportunity to build a complete portfolio. of coffee capable of satisfying the different preferences of consumers. We remain respectful of the 140-year history of the company and the dedication and passion of the four generations who have created such a rich and renowned coffee brand, synonymous with the authentic experience of Italian coffee. Our investment in Caffè Vergnano is aligned with The Coca-Cola Company as we have worked together on this opportunity".
EFA News - European Food Agency