THE MERGER IS CLEARED IN THE MARKET OF BEVERAGES PRODUCTION

The Competition Council has allowed the Netherlands company CC Beverages Holdings II B.V. to acquire 100 percent of the shares of the Finnish company Brown-Forman Finland and to acquire the sole control over it.

On 11 October 2023, the Competition Council received the merger notification. Having assessed the circumstances related to the transaction, the authority concluded that the intended merger would not create or strengthen the dominant position or significantly restrict competition in the relevant markets.

CC Beverages Holdings II B.V. is a subsidiary of the Coca-Cola Hellenic Bottling Company (CCHBC). CCHBC is an authorised bottler of The Coca-Cola Company's beverages which produces and sells Coca-Cola-branded and other beverages in 29 countries in Europe, Eurasia, and Africa. CCHBC also bottles and distributes a wide range of beverages, including carbonated soft drinks, water, energy and sports drinks, juices and spirits, coffee, instant tea, herbal drinks, and snacks.

Brown-Forman Finland is engaged in the production and supply of Finlandia branded vodka to distributors in Lithuania.

The Law on Competition stipulates that the intended merger must be notified to the Competition Council and clearance must be obtained if the combined aggregate income of merging parties in the business year preceding the merger exceeds EUR 20 million and the aggregate income of each of at least two merging parties in the business year preceding the merger exceeds EUR 2 million.