CCHBC eyes evolution into food company
The main priorities the management of the Coca-Cola HBC AG group has set for 2019 are acquisitions of strong local brands (mainly in the categories of bottled water and juice), cooperations with companies active in online commerce (especially in packaged food), and emphasis on the hotel sector. All this is seen serving the group’s central aim, that being its evolution into a food corporation that will cover all consumer needs around the clock, whatever the occasion.
Regarding acquisitions, the group last month announced its buyout of Serbian snack company Bambi for 260 million euros, while it is said to be interested in another Serbian firm, Knjaz Milos, active in the production of mineral water and non-alcoholic beverages.
“We will continue to examine opportunities for additional acquisitions, especially strong local brands of water and juice,” CCHBC chief Zoran Bogdanovic stated in the group’s annual report for 2018. If the right investment opportunities do not arise, he added that the target will be the further improvement of the net-borrowing-to-EBITDA ratio, to the 1.5 to 2 level.
