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Coca-Cola Hellenic drinks up acquisition

By Jonathan Reddihough on October 03 2008

Greece's Coca-Cola Hellenic (CCH), the world's second-largest bottler of Coke drinks, has acquired family-owned Italian peer Socib. The deal, which expands the Greek bottler's activities in the south of Italy, and expands its scale of operations in Italy by 25 per cent, was worth €270 million (£219.2 million).

The company said the transaction would not seriously impact its 2008 profit.

Socib, Italy's second-largest Coca-Cola bottler, sells its bottled Coke in the south of Italy, while the local unit of CCH operates in the north of the country and Sardinia.

Doros Constantinou, managing director of Coca-Cola Hellenic, commented: “We are delighted with this acquisition, as it extends our footprint into southern Italy and complements our existing franchise. . .In particular, the acquisition allows us to leverage the depth of our existing local expertise. . .”

Legal counsel for the sellers was provided by a team from Peter Bernasconi and Partners.

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Peter Bernasconi & Partners is a leading law firm based in Italian-speaking Lugano, Switzerland’s third most important financial centre, employing some twenty attorneys and ten paralegals. Its favorable geographical situation and the multilingual skills of its attorneys enable the firm to expertly assist national and international clients.

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