Ideal Holdings in talks with Coca-Cola HBC to sell Three Cents

Ideal Holdings is in discussions with a company of the Coca-Cola HBC group for the sale of its 100% stake in ESM Effervescent Sodas Management Limited (Three Cents), as it informed the Athens Stock Exchange in a relevant letter.

Specifically, the company states: “Following a question from the Capital Market Commission regarding a press article, entitled “Rumors of a deal between Ideal and 3E (Coca cola) regarding the production company of premium soft drinks Three cents!”, we inform you that our company is at the stage of discussions with a company of the Coca-Cola HBC group for the sale of its 100% participation in ESM Effervescent Sodas Management Limited (Three Cents)”.

“However, to date, no definitive and binding agreement has been signed between the parties for this sale,” the company clarified.

“As soon as the discussions are successful and an agreement is signed between the parties, our company will immediately publish a relevant announcement, in accordance with the written provisions, with which it will clearly inform its shareholders and the wider investment public, about any transaction”, concludes the Ideal Holdings announcement.

Three Cents

The innovative premium mixers & tonics company was founded at the end of 2014 in Great Britain by Vassilis Kalantzis, George Bagos, Dimitris Dafopoulos and George Tsirikos, with the aim of offering HORECA professionals a premium and different product.

Three Cents products are exported to more than 34 countries, and in 2022 sales abroad are expected to exceed sales in Greece, despite the fact that Greece will set a sales record.

The company’s sales for 2021 amounted to 7.7 million euros, while EBITDA amounted to 1.5 million euros.