Coca-Cola HBC acquires super-premium adult sparkling beverage brand

By Rachel Arthur

- Last updated on GMT


Related tags Coca-cola coca-cola hellenic bottling company

Coca-Cola HBC has acquired mixer and adult sparkling beverage brand Three Cents for €45m ($46m), noting an ‘exciting growth opportunity’ in the category.

Three Cents is a popular super-premium mixer product line, offering artisanal beverages crafted without preservatives or artificial colorings.

In acquiring ESM Effervescent Sodas Management Limited, from S.I.C.C Holding Limited (a wholly-owned subsidiary of IDEAL Holdings SA), Coca-Cola HBC becomes the owner of the Three Cents brand.

Completion of the Transaction is expected in the second half of 2022.

It was founded in Greece in 2014 by founders George Bagos, Dimitris Dafopoulos, George Tsirikos and Vassilis Kalantzis, a group of bar tenders and F&B professionals.

The brand has established itself as a super-premium, adult sparkling beverage and mixer for long-drinks and cocktails.

As part of the acquisition, the founding team will remain with the company.

Three Cents will complement Coca-Cola HBC's existing adult sparking beverage portfolio, which includes the established adult brands, Schweppes and Kinley.

“The adult super-premium sparkling beverage and mixer category represents an exciting growth opportunity and is an important pillar of Coca-Cola HBC's 24/7 beverage partner strategy," ​says Coca-Cola HBC.

"Coca-Cola HBC caters to a growing range of consumer tastes and consumption occasions with one of the broadest and most flexible portfolios in the beverage industry."

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