Coca-Cola HBC buys Serbian Confectionery company, Bambi
The Serbian biscuit and confectionery company, Bambi have just been sold to Coca-Cola HBC for €260 million by Mid Europa Partners.
Mid Europa Partners, the leading private equity investor in Central and Eastern Europe, announced today the agreement to sell Bambi, the leading biscuit producer in the countries of former Yugoslavia, to Coca-Cola HBC AG . The transaction is subject to customary competition authority clearance and is expected to close.
Mid Europa acquired Bambi in 2015, together with Imlek and Knjaz Miloš, the leading regional dairy and natural mineral water players, respectively, forming the consumer group - Moji Brendovi. Bambi, a confectionery producer, recognised the increased consumer focus on health and wellness and emerged as the regional biscuit category leader.
Bambi specialise in biscuits, wafers and savory snacks with its core brand Plazma, is ranked first in brand recogniton in Serbia.
Robert Knorr, Co-Managing Partner of Mid Europa commented: "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."
Andrej Babache, Partner of Mid Europa, commented: "We acquired a strong business and worked closely with Moji Brendovi's CEO, Andrej Jovanovic, and the management buy-in team to transform it into a regional leader with an unprecedented brand recognition and customer loyalty."
Dragan Stajkovic, CEO of Bambi, commented: "It is with pride that we join a family of highly successful brands at Coca-Cola HBC. We believe that their unique positioning across 28 markets provides us with a strong backbone for the continuation of our geographical expansion and development of our ambitious innovation for the benefit of our customers.
Coca-Cola HBC are on of the largest bottlers of the Coca-Cola Company, operating in 28 countries.
Zoran Bogdanovic, CEO of Coca‑Cola HBC, said, “This acquisition represents an excellent opportunity to create additional value for Coca‑Cola HBC, its customers and shareholders. It adds iconic, complementary consumer brands to our portfolio of leading beverage brands, as well as consumer-focused innovation capabilities. It further strengthens our relevance with customers and allows us to increase our presence in key consumption occasions, such as the start of the day, on the go and at home snacking and refreshment.”