Coca-Cola HBC is pleased to announce that it has reached an agreement to acquire Brown-Forman Finland Oy, owner of the Finlandia vodka brand, from Brown-Forman Corporation’s wholly-owned subsidiary, Brown-Forman Netherlands BV. The agreed purchase price amounts to US$220 million and is subject to customary closing price adjustments.. The acquisition is being made through Coca-Cola HBC's wholly-owned subsidiary, CC Beverages Holdings II BV. Completion of the Proposed Transaction is expected in the second half of 2023 and is subject to regulatory approvals.
Finlandia was established in 1970 and is a leading vodka brand in Central and Eastern Europe with annual volumes of 2.7 million 9L cases globally, of which more than 60% is being generated within Coca-Cola HBC’s geographic footprint. Finlandia is bottled by Anora Group plc in Finland based on a long-term production services agreement and is available in pure and in several flavored versions.
The Proposed Transaction represents a unique opportunity for Coca-Cola HBC that enhances its journey towards becoming the leading 24/7 beverage partner. Coca-Cola HBC has been distributing Finlandia and other premium spirits brands for more than 17 years and this acquisition will further enrich and strengthen its portfolio across more of its markets. Ownership of the Finlandia brand will enhance Coca-Cola HBC’s premium spirits credentials; driving mixability opportunities with premium and super-premium Non-Alcoholic Ready-To-Drink (NARTD) products, helping capture more drinking occasions, and strengthening partnerships with customers in strategically important channels such as HoReCa.
