SANTENA, Turin, Italy — Casa del Caffè Vergnano S.p.A. (“Caffè Vergnano”) announces it has entered into an agreement with Coca-Cola HBC AG (“Coca-Cola HBC”) for an exclusive distribution agreement for Caffè Vergnano’s products in its territories outside of Italy. At the same time, the agreement includes the sale of a 30% shareholding in the company. The parties have agreed not to disclose any financial details.
This agreement will not impact the Italian market either strategically or in terms of distribution, and the governance of the company will be maintained by the Vergnano family.
This partnership represents an important milestone for our company and a great opportunity to accelerate the international growth and development of our brand. Caffè Vergnano has always been recognised as a true ambassador of authentic Italian espresso and for over 135 years it has been synonymous with quality, excellence and the Made in Italy concept.
With Coca-Cola HBC as our new strategic partner, we look forward to further strengthen our presence beyond Italy and accelerate our growth trajectory. The strategic objective of this partnership is to become part of the premium segment of Coca-Cola HBC’s coffee portfolio and to benefit from the potential to expand significantly leveraging its wide distribution network and leading commercial capabilities.
Franco and Carlo Vergnano, respectively CEO and President of Caffè Vergnano, commented:
“The signing of this agreement with Coca-Cola HBC represents an important milestone in the evolution of our company. It is a confirmation of how a family-run business that has been managed in a coherent and conscious manner, can achieve great goals without losing sight of its history and values. And it is in this perspective of continuity that we want to look to the future of our company and to that of all of our partners and collaborators who have been next to us over the years.”
The fourth generation of the family, comprising of Carolina Vergnano, Enrico Vergnano and Pietro Vergnano, and an active part of the Board of Directors , also reinforced the message of continuity and harmony of purpose:
“We are delighted to welcome Coca-Cola HBC as our new strategic partner to help identify and develop new growth opportunities that will support our brand’s journey outside our home market. Combining Coca-Cola HBC’s expertise, know-how and critical mass, with our heritage coffee brand, great products and deep knowledge of the industry, we are confident this will prove a powerful partnership in growing our business further.”
Zoran Bogdanovic, CEO of Coca-Cola HBC, said:
“We are grateful for the trust being placed in us by the Vergnano family and are excited by the opportunities ahead with this terrific brand. With Caffè Vergnano, we are well positioned to build a total coffee portfolio that caters for a diverse range of consumer preferences. We are respectful of the company’s 140-year history and the dedication and passion of the four generations that created such a rich and renowned coffee brand, synonymous with the authentic Italian coffee experience. Our investment in Caffè Vergnano is aligned with The Coca-Cola Company as we have worked together on this opportunity.”
Caffè Vergnano is one of the oldest Italian roasting companies. Founded in 1882 and being run by the Vergnano family for nearly 140 years, it has told the rite of authentic Italian espresso, bringing perfumes and aromas from all over the world into a cup. The secret of the blends is the slow and traditional roasting that enhances every detail while respecting the raw material. Caffè Vergnano blends can be found in large-scale distribution, in the best bars and in over 170 Caffè Vergnano 1882 stores worldwide world. Caffè Vergnano currently exports its products to over 90 countries worldwide.
Coca-Cola HBC is a growth-focused CPG business and strategic bottler of The Coca-Cola Company. The company creates value for all its stakeholders by supporting the socio-economic development of the societies in which it operates and believes that building a more positive environmental impact is integral to its future growth. Together, the company and its customers serve more than 600 million consumers across a broad geographic footprint of 28 countries on 3 continents. Its portfolio is one of the strongest, broadest and most flexible in the beverage industry, offering consumer-leading partner brands in the sparkling, juice, water, sport, energy, plant-based, ready-to-drink tea, coffee, adult sparkling and premium spirits categories.
These brands include Coca-Cola, Coca-Cola Zero, Schweppes, Kinley, Costa Coffee, Valser, Römerquelle, Fanta, Sprite, Powerade, Fuze Tea, Dobry, Cappy, Monster and Adez. Coca-Cola HBC fosters an open and inclusive work environment amongst its more than 27,000 employees and in November 2020 was rated Europe’s most sustainable beverage company by the S&P DJSI for the 7th time in 8 years. The company currently holds the highest possible ratings in leading ESG benchmarks such as, CDP (Climate and Water), MSCI ESG and FTSE4Good.
Coca-Cola HBC has a premium listing on the London Stock Exchange (LSE:CCH) and is listed on the Athens Exchange (ATHEX:EEE). For more information, please visit http://www.coca-colahellenic.com.