CCH Holdings To Buy 30% Equity Stake In Casa Del Caffè Vergnano

(RTTNews) - Coca-Cola HBC AG (CCH) said Monday its subsidiary CCH Holdings, on June 25, signed a deal to acquire a 30% equity stake in a premium Italian coffee company Casa Del Caffè Vergnano S.p.A., also known as Caffè Vergnano. The deal, which is expected close in the second half of 2021, is subject to customary closing conditions and regulatory approvals.

Furthermore, both the companies will sign an exclusive distribution deal, where in Caffè Vergnano's products will be distributed and sold in Coca-Cola HBC's territories outside of Italy. Also, the terms of the proposed deal were not be disclosed. while the acquisition is expected to strengthen Coca-Cola HBC's coffee portfolio, the distribution partnership will enable Caffè Vergnano to accelerate its growth outside its home market.

Caffè Vergnano, a family-owned Italian coffee company headquartered in Santena, Italy. sold about 7,000 tons of coffee in more than 90 countries worldwide in 2020.