Three Cents has established itself as a super-premium, adult sparkling beverage and mixer for long-drinks and cocktails
Coca-Cola HBC AG has announced that its wholly-owned subsidiary, CC Beverages Holdings II B.V., has reached an agreement to acquire ESM Effervescent Sodas Management Limited (Three Cents) from S.I.C.C Holding Limited, a wholly-owned subsidiary of IDEAL Holdings SA, a publicly-listed company in Greece.
The agreed enterprise value amounts to €45 million. Completion of the transaction is expected in the second half of 2022 and is subject to customary closing conditions and regulatory approvals.
The company is the owner of the popular super-premium mixer product line under the Three Cents brand, offering artisanal beverages crafted without preservatives or artificial colourings. Three Cents was founded in 2014.
The adult super-premium sparkling beverage and mixer category represents an exciting growth opportunity and is an important pillar of Coca-Cola HBC’s 24/7 beverage partner strategy. Well-positioned for the super-premium segment, Three Cents will complement Coca-Cola HBC’s existing adult sparking beverage portfolio, which includes the established adult brands, Schweppes and Kinley.