Coca-Cola HBC acquires Finlandia vodka for $220 million

Coca-Cola has announced an agreement to acquire Brown-Forman Finland, the owner of the Finlandia vodka brand. The deal worth $220 million is planned to be completed in the second half of the year. 

According to representatives of Coca-Cola, the company intends to expand its range of premium alcoholic beverages. Finlandia is the leading vodka brand in Central and Eastern Europe. Its production began in 1970, and this brand became the first Scandinavian vodka sold in the United States. 

Previously, Coca-Cola owned the rights to sell Finlandia on the Russian market, but in 2017 the contract was terminated. Due to the start of the military operation in Ukraine, the manufacturer suspended the export of Finlandia and Jack Daniel's whiskey to Russia. Also at that time, Coca-Cola announced the suspension of its activities in Russia and stopped producing beverages in the country. 

However, the Russian division of Coca-Cola operates ten plants producing similar carbonated drinks under the brand «Dobry». The brand «Good Dobry» became the leader in sales in Russia among other carbonated drinks by the end of January-February of this year.