Coca-Cola HBC completes acquisition of minority stake in Caffè Vergnano
Caffè Vergnano is one of the oldest coffee roasters in Italy with a premium, high-quality coffee that represents Italian heritage and authenticity. Its portfolio includes traditional espresso in various blends, packages and formats such as beans, roast and ground coffee and single portioned pods. In 2020, the company sold approx. 7,000 tons of coffee in more than 90 countries worldwide.
As part of the deal, Coca-Cola HBC has entered into an exclusive distribution agreement for Caffè Vergnano's products in Coca-Cola HBC's territories outside of Italy.
CCHBC says the investment is ‘highly complementary’ to its Costa coffee proposition (Coca-Cola acquired the world’s second largest coffee chain in 2019 and CCHBC has been rolling out new Costa products over the last year).
Furthermore, the partnership 'will increase Coca-Cola HBC’s relevance with its customers within the most attractive segments of the coffee category, while providing Caffè Vergnano with significant expansion potential through Coca-Cola HBC’s leading route to market network and commercial capabilities.'