M&A: Coca-Cola HBC acquires Greek super-premium sparkling brand
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. 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.
Three Cents will complement Coca-Cola HBC's existing adult sparking beverage portfolio, which includes the established adult brands, Schweppes and Kinley.