Bambi produces a range of products - including biscuits, wafers and savoury snacks - with Bambi, Plazma, Wellness, Zlatni Pek, and Josh among its brands. Biscuit brand Plazma ranks first in brand recognition in Serbia, according to the Serbia Consumer Association and Serbian Chamber of Commerce.
Bambi generates more than two thirds of its revenue in Serbia and the rest mainly in the Western Balkans. In 2018 it recorded revenue of approximately €80m ($90m).
Coca-Cola says the acquisition gives it strong brands in a relevant, adjacent category to the main Coca-Cola HBC portfolio, helping to increase its presence in key consumption occasions and channels.
It says Bambi offers revenue synergies through cross-promotions and cost efficiencies; while the Serbian company also has a strong distribution network and established portfolio in strategically important channels such as traditional retail and hotels, retail and cafes.
Furthermore, Serbia and the Western Balkans are among Coca-Cola HBC’s fastest growing regions.
Zoran Bogdanovic, CEO, Coca-Cola HBC, said: “This acquisition adds iconic, complementary consumer brands to our portfolio of leading beverage brands, as well as consumer-focused innovation capabilities.
"It further strengthens our relevance with customers and allows us to increase our presence in key consumption occasions, such as the start of the day, on the go and at home snacking and refreshment.”
Based in Switzerland, Coca-Cola HBC is one of The Coca-Cola Company’s largest bottlers; covering 28 countries including Ireland, Italy, Russia and Nigeria. Its annual sales volume reaches more than 2 billion unit cases with 197 brands, primarily in non-alcoholic RTD beverages in the sparkling, juice, water, sport, energy, tea and coffee categories.
It has spent €1.2bn ($1.36bn) on acquisitions since 2000, primarily in the juice and water categories.