Coca Cola is set to buy the Serbian condiments producer Bambi for 260 million Euros, a statement said on Monday.
It added that Coca-Cola HBC AG had launched proceedings to buy Bambi from the Mid Europa Partners Fund and expects to complete the purchase in the second quarter of 2019. Bambi would get an opportunity to expand its production and develop, it said.
Coca-Cola HBC AG CEO Zoran Bogdanovic is quoted as saying that the company will added well-known complementary brands and innovative skills and know-how to its portfolio of brands giving it an increased presence.
He said that Bambi’s value lies in its strong distribution network.
Coca Cola has had production facilities in Serbia for about 50 years. Bambi is a leading domestic condiments producer based in the town of Pozarevac.