Coca-Cola HBC buys Serbian confectioner Bambi for €260mn

Coca-Cola HBC buys Serbian confectioner Bambi for €260mn
By bne IntelliNews February 18, 2019

Coca-Cola HBC will buy Serbian confectionary producer Bambi for €260mn, its current owner, private equity investor Mid Europa Partners, said on February 18.

Mid Europa acquired Bambi in 2015 along with two other Serbian firms – dairy producer Imlek and water bottler Knjaz Milos.

“The transaction is subject to customary competition authority clearance and is expected to close in Q2 2019,” Mid Europa said in a press release.

Bambi’s revenue stood at €80mn in 2018 with more than two-thirds coming from the Western Balkan countries. The company was set up in 1967 and makes biscuits, wafers and savory snacks. Its brands include Bambi, Plazma, Wellness, Zlatni Pek, and Josh.

"Bambi showcases our value-add approach - we focused on Bambi's strength in the biscuit category by disposing of its chocolate division and investing more in its core biscuit brands. We are now extracting Bambi from a diversified consumer group as the company has deservedly found its place within a leading international consumer leader. We will continue to replicate this strategy across our investments in Central and Eastern Europe," Robert Knorr, co-managing partner of Mid Europa, said in the press release.

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