Coca-Cola HBC
Corporate brand
UnclaimedA major Coca-Cola bottling partner producing, selling and distributing beverages across Europe and Africa.
Last updated August 22, 2026
Overview
Coca-Cola HBC AG is one of The Coca-Cola Company's largest independent bottling partners. The group manufactures, packages, markets, sells and distributes Coca-Cola system beverages in a geographically diverse territory covering Europe and Africa. Its portfolio is centered on sparkling soft drinks such as Coca-Cola, Fanta and Sprite, but also includes bottled water, juices, energy drinks and other non-alcoholic beverages, depending on the market. The company generally operates under bottling and distribution arrangements with The Coca-Cola Company and other brand owners rather than functioning as the global owner of the Coca-Cola trademarks. The business originated in Greece in 1969, when Hellenic Bottling Company was incorporated and received Coca-Cola bottling rights for the Greek market. Its international scale increased through the 1981 merger with Nigerian Bottling Company, founded by Anastasios George Leventis, and through the acquisition in 2000 of Coca-Cola Beverages Ltd, the former European operations of Coca-Cola Amatil. That transaction created Coca-Cola Hellenic Bottling Company and established a broad operating platform across Central, Eastern and Southern Europe and parts of Africa. A major corporate turning point came in 2012 and 2013. The company announced that its operational headquarters and corporate domicile would move from Greece to Switzerland and that its principal stock-market listing would move to London. Coca-Cola HBC AG became the Swiss holding company in April 2013, and its shares were admitted to the London Stock Exchange main market on 29 April 2013. The move took place during Greece's sovereign-debt crisis and was presented as a way to improve access to financing and establish a more internationally oriented corporate base. The company retained a secondary listing in Athens and later became a constituent of the FTSE 100 and FTSE All-Share indices. Coca-Cola HBC's ownership structure includes a significant holding by Kar-Tess Holding and a substantial stake held by The Coca-Cola Company, with the remainder publicly traded. The company has been described as the world's third-largest Coca-Cola anchor bottler by volume and has reported sales exceeding two billion unit cases in the referenced company description. Its territory has included established markets such as Greece, Cyprus, Ireland, Austria, Switzerland and Italy; developing markets in Central and Eastern Europe; and emerging markets including parts of the Balkans, Eastern Europe, Nigeria and Egypt. Market participation can change over time as bottling territories, political conditions and operating arrangements develop. The company has also emphasized sustainability and product innovation. Coca-Cola HBC was recognized as the beverage-industry leader in the 2014 Dow Jones Sustainability Index and was included in the FTSE4Good Index. In 2019 it announced that its Valser carbonated-water brand would use carbon captured through direct-air-capture technology supplied by Climeworks. The group has also expanded beyond traditional carbonated soft drinks through water, juice and energy-drink categories, helping it respond to changing consumer preferences and reduce reliance on a single beverage segment. Coca-Cola HBC remains an active, publicly listed bottling and beverage-distribution group. Its role is operational and regional: it translates global and licensed beverage brands into local production, route-to-market, sales and distribution capabilities across a large territory. The company is distinct from The Coca-Cola Company, which owns the Coca-Cola brand and other intellectual property, and from Coca-Cola Europacific Partners, which serves several other markets, including Great Britain.
History
Coca-Cola HBC traces its corporate origin to Hellenic Bottling Company, incorporated under Greek law in 1969 with headquarters in Athens. In the same year, The Coca-Cola Company granted the business bottling rights for Greece. This established the fundamental model that still defines Coca-Cola HBC: a regional bottler manufactures, packages, sells and distributes beverages using trademarks and concentrates supplied through The Coca-Cola system. The company expanded beyond Greece in 1981 through a merger with Nigerian Bottling Company. Nigerian Bottling Company had been founded by Anastasios George Leventis, and the combination gave Hellenic Bottling Company a significant African operating presence. International expansion continued in August 2000, when Hellenic Bottling Company acquired Coca-Cola Beverages Ltd, the former European operations of Coca-Cola Amatil. The enlarged group was named Coca-Cola Hellenic Bottling Company S.A. and operated across a wide collection of European and African markets. The next major change involved the company's legal domicile, operational center and capital-market profile. In October 2012, Coca-Cola Hellenic announced that its operational headquarters would move to Switzerland and that its principal listing would move from Athens to London. The decision occurred amid Greece's financial crisis, which had affected the domestic capital market and contributed to pressure on Greek corporate credit ratings. In April 2013, the company changed its name to Coca-Cola HBC AG and completed its move to Switzerland. On 29 April 2013, the Swiss holding company was admitted to the London Stock Exchange's main market. A secondary listing remained in Athens, preserving a connection with the company's Greek origins. In September 2013, FTSE Russell announced Coca-Cola HBC's inclusion in the FTSE 100 and FTSE All-Share indices. In 2014, the company was recognized as the beverage-industry leader in the Dow Jones Sustainability Index and was also included in the FTSE4Good Index. Later that year, Coca-Cola HBC announced the withdrawal of its American depositary receipts from the New York Stock Exchange and the termination of its ADR program and associated U.S. Securities Exchange Act reporting obligations. Leadership changed abruptly in 2017. Chief executive Dimitris Lois died after a period of illness in October. The board appointed Zoran Bogdanović as chief executive officer on 7 December 2017. Under its continuing regional bottling model, Coca-Cola HBC maintained operations across established, developing and emerging markets in Europe and Africa, with product categories extending beyond carbonated soft drinks into water, juices and other non-alcoholic beverages. Sustainability and production technology became more visible parts of the company's development in the late 2010s. In January 2019, Coca-Cola HBC announced that Valser, its carbonated-water brand, would use carbon captured by Climeworks through direct-air-capture technology. The company also pursued portfolio and geographic expansion. In February 2019 it announced a deal valued at 260 million euros to acquire Serbian food company Bambi from Mid Europa Partners. In 2022, the Russian division associated with the group was reported to have been renamed Multon Partners. Today Coca-Cola HBC is a Switzerland-based, publicly traded bottling and beverage company with a primary London listing, a secondary Athens listing and operations spanning three continents according to the referenced company description. It remains commercially linked to The Coca-Cola Company while operating as a separate listed group responsible for local production, route-to-market execution and distribution across its assigned territories.
- 2019
Bambi acquisition announced
[1]The group announced an agreement to acquire Serbian food company Bambi from Mid Europa Partners.
- 2017
Zoran Bogdanović becomes CEO
[1]Zoran Bogdanović was appointed chief executive officer after the death of Dimitris Lois.
- 2014
Sustainability index recognition
[1]Coca-Cola HBC was named the beverage-industry leader in the Dow Jones Sustainability Index and was included in FTSE4Good.
- 2013
Swiss domicile and London main listing
[1]The company became Coca-Cola HBC AG, moved its domicile to Switzerland and joined the London Stock Exchange main market.
- 2013
Added to the FTSE 100
[1]FTSE Russell announced Coca-Cola HBC's inclusion in the FTSE 100 and FTSE All-Share indices.
- 2000
Acquisition creates Coca-Cola Hellenic
[1]Hellenic Bottling Company acquired Coca-Cola Beverages Ltd, the former European operations of Coca-Cola Amatil, and formed Coca-Cola Hellenic Bottling Company.
- 1981
Merger with Nigerian Bottling Company
[1]The company merged with Nigerian Bottling Company, extending its Coca-Cola bottling operations into Africa.
- 1969
Hellenic Bottling Company incorporated
[1]Hellenic Bottling Company was incorporated in Greece and received Coca-Cola bottling rights for the Greek market.
Products and positioning
A large, regionally focused Coca-Cola bottling partner combining local manufacturing, sales and distribution with a broad portfolio of non-alcoholic beverages.
Carbonated soft drink
Coca-Cola
Coca-Cola is the principal global beverage brand distributed through Coca-Cola HBC's bottling territories. The group produces, packages, sells and distributes the brand locally under its arrangements with The Coca-Cola Company. Market-specific variants and pack formats can differ across the company's European and African operations.
Flavored carbonated soft drink
Fanta
Fanta is a flavored sparkling beverage in the Coca-Cola system portfolio. Coca-Cola HBC manufactures and distributes Fanta in markets within its assigned territory, supporting local availability through retail, food-service and route-to-market networks.
Lemon-lime carbonated soft drink
Sprite
Sprite is a lemon-lime sparkling soft drink distributed by Coca-Cola HBC in relevant territories. It forms part of the group's core Coca-Cola system range and is sold through the company's local bottling, commercial and distribution infrastructure.
Bottled water and carbonated water
Valser
Valser is a Swiss water brand associated with Coca-Cola HBC. The brand became notable in 2019 when Coca-Cola HBC announced plans to use carbon captured through Climeworks' direct-air-capture technology in its carbonated-water production.
Juice and fruit beverage
Cappy
Cappy is a juice and fruit-beverage brand distributed in parts of Coca-Cola HBC's operating territory. It illustrates the group's expansion beyond sparkling soft drinks into juice-based and other still beverage categories.
Brand decisions
2019
Introduce captured carbon in Valser productionOtherBackground
The company explored lower-carbon production approaches for its water and beverage portfolio.
Action taken
Coca-Cola HBC announced that Valser would use carbon captured through Climeworks' direct-air-capture technology.
Aftermath
The initiative became an example of the group's sustainability and production-technology activity.
2019
Acquire Serbian food company BambiM&ABackground
Coca-Cola HBC sought to broaden its regional food and beverage platform beyond its traditional Coca-Cola bottling portfolio.
Action taken
The company announced an agreement to acquire Bambi from Mid Europa Partners.
Aftermath
The transaction expanded Coca-Cola HBC's presence in Serbia and added a food business to its regional portfolio.
Announced transaction value. €260 million (2019 announcement)
2014
Terminate New York ADR programStrategyBackground
After establishing its primary London listing, the company reviewed its U.S. depositary-receipt and reporting structure.
Action taken
Coca-Cola HBC announced the delisting of its American depositary receipts from the New York Stock Exchange and the termination of the ADR program and related reporting obligations.
Aftermath
The company's main public-market identity remained centered on London, with a secondary listing in Athens.
2012
Move corporate domicile and principal listingStrategyBackground
The decision was announced during Greece's sovereign-debt crisis, when the Athens market and Greek corporate credit conditions were under pressure.
Action taken
Coca-Cola Hellenic announced a move of its operational headquarters to Switzerland and a shift of its principal listing to London.
Aftermath
The company became Coca-Cola HBC AG, completed its Swiss redomiciliation in 2013 and joined the London Stock Exchange main market while retaining a secondary Athens listing.
Recent events
- 2022
Russian division renamed Multon Partners[1]
Other
The Russian division associated with Coca-Cola HBC was reported to have been renamed Multon Partners.
- 2019
Valser to use carbon captured through direct air capture[1]
Product launch · Other
Coca-Cola HBC announced that its Valser carbonated-water brand would use carbon captured by Climeworks' direct-air-capture technology.
- 2019
Coca-Cola HBC agrees to acquire Bambi[1]
M&A
The company announced an acquisition agreement for Serbian food producer Bambi from Mid Europa Partners.
- 2017
Dimitris Lois dies after illness[1]
Leadership change
Chief executive Dimitris Lois died after a period of illness, creating a leadership transition at the company.
- 2017
Zoran Bogdanović appointed chief executive officer[1]
Leadership change
The board appointed Zoran Bogdanović as chief executive officer following the death of Dimitris Lois.
- 2014
Coca-Cola HBC announces New York Stock Exchange ADR delisting[1]
Other
The company announced the delisting of its American depositary receipts from the New York Stock Exchange and the termination of its ADR and related U.S. reporting arrangements.
- 2013
Coca-Cola HBC completes Swiss redomiciliation and London listing[1]
Other
Coca-Cola HBC AG became a Swiss holding company and was admitted to the London Stock Exchange main market.
- 2013
Coca-Cola HBC joins FTSE 100 and FTSE All-Share indices[1]
Other
FTSE Russell announced the company's inclusion in the FTSE 100 and FTSE All-Share indices.
- 2012
Coca-Cola HBC announces move of operational headquarters and principal listing[1]
Other
The company announced plans to move its operational headquarters to Switzerland and shift its main market listing to London during the Greek debt crisis.
Sources3 sources
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