Coca Cola's bottling company in Greece, CCHBC has completed its acquisition of Gotalka, the Croation mineral water company.
CCHBC's acquisition will involve a production company at Budins. Ina and Gotalka's mineral brand Bistra.
Doros Constantinou, CCHBC's managing director said that the " Brista brand has significant potential" for the company and will"enable the business in Croatia to expand into promising water segment there."
The company has selected a range of acquisitions that have given it an advantage in specific markets. For example in October last year the company strengthened its position in Poland after buying out Polish mineral water company Multiva.
The trend of acquisitions coupled with the launch of new products last year helped to lift the company's total volume sales for the first half of 2003 by 6 per cent to 647 million unit cases.
However, the managing director noted that this acquisition was to have limited financial consequences.
" It is a small acquisition with no material impact on the groups financial results, and is very much in line with our strategy to broaden the selection of non-alcoholic beverages that we offer to our consumers," Constantinou added.
Coca Cola HBC is one of the world's largest bottlers of products for the Coca Cola company. It has operations in 26 countries that serve a population of over 500 million people.