Coca-Cola HBC has bought Serbian confectionary maker Bambi for EUR 260m, it was announced today. The deal will be completed in spring 2019 while it remains subject to the customary conditions and approvals of regulatory authorities. Bambi, founded in 1967, makes a range of products including biscuits, wafers and savory snacks. Its most famous product is Plazma biscuits that is popular across the Balkan region. In 2018, Bambi’ revenue stood at EUR 80m, with more than two-thirds being generated in Serbia. “This acquisition represents an excellent opportunity to create additional value for Coca-Cola HBC, its customers and shareholders. It adds iconic, complementary consumer brands to our portfolio of leading beverage brands, as well as consumer-focused innovation capabilities,” says Zoran Bogdanović, CEO of Coca-Cola HBC. He added that the acquisition “further strengthens our relevance with customers and allows us to increase our presence in key consumption occasions, such as the start of the day, on-the-go and at home snacking and refreshment.” In addition, Coca Cola HBC statement states that “Bambi offers opportunities for revenue synergies through cross-promotion and complementary innovation and cost efficiencies. The Bambi business also brings a strong distribution network and product portfolio in strategically important channels such as traditional retail.”
BiH no longer on list of countries with high risk of money laundering
Bosnia and Herzegovina is no longer on the European Commission’s list of third countries with strategic deficiencies in anti-money laundering and counter-terrorist financing frameworks. The new list was released on 13 February and includes 23 countries. The aim of the list is to protect EU’s financial system by improving preventative measures against money laundering and terrorist financing risks. As a result, banks and other entities covered by EU anti-money laundering rules are required to apply more thorough checks on financial transactions from the countries on the list. The new list includes Saudi Arabia, Iran, Iraq, Nigeria, Libya, Syria and Yemen.