By Jaime Llinares Taboada

Coca-Cola HBC AG said Tuesday that it has agreed to acquire the Three Cents premium-mixer product brand from Ideal Holdings S.A. for an enterprise value of 45 million euro ($45.9 million).

The FTSE 100 Coca-Cola bottler, which is 23% owned by Coca-Cola Co., said that the acquisition of the holding company ESM Effervescent Sodas Management Ltd. is expected to complete in the second half of 2022.

Three Cents offers artisanal beverages crafted without preservatives or artificial colorings, Coca-Cola HBC said.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

August 09, 2022 02:27 ET (06:27 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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