Coca-Cola HBC to buy vodka maker Finlandia for $220 million
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The European division of The Coca-Cola Company Coca-Cola HBC will acquire Finlandia vodka producer Brown-Forman Finland. About it informs Reuters, citing a company statement.
The cost of the transaction to buy the unit from the American Brown-Forman will be $220 million. It is planned to close in the second half of 2023.
The company said in a statement that Finlandia is the leading vodka brand in Central and Eastern Europe. Its release began in 1970. Finlandia became the first Scandinavian vodka sold in the United States.
Brown-Forman also owns the Jack Daniel’s whiskey brand. The company suspended the sale of products in Russia after the start of the special operation. Brown-Forman acquired producer Finlandia in 2004. A few years ago it was reported that the company was considering selling the brand and planned to focus on whiskey production. Coca-Cola HBC imported the products of the American company to Russia, but in 2017 the media wrote that the contract terminated.
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