Coca-Cola HBC informed about the acquisition of the Finlandia Brown-Forman Finland vodka brand from Brown-Forman Corporationʼs "subsidiary", Brown-Forman Netherlands BV.
This was reported by the companyʼs press service.
The agreed value of the brand is $220 million. The deal is expected to close in the second half of 2023.
The Finlandia brand was founded in 1970 and is the leading vodka brand in Central and Eastern Europe with an annual production volume of 2.7 million 9-liter cases worldwide, of which more than 60% is produced within the geographical presence of Coca-Cola HBC.
Finlandia is bottled by Anora Group plc in Finland under a long-term manufacturing services agreement, and the product is available neat and in several flavored versions.
Coca-Cola HBC has been distributing Finlandia and other premium alcohol brands for more than 17 years. The company added that ownership of the Finlandia brand will strengthen Coca-Cola HBCʼs position in the premium alcoholic beverage market.
- Coca-Cola HBC is part of the Coca-Cola system and produces beverages in Italy, Nigeria, Egypt and the countries of Central and Eastern Europe.