The acquisition is subject to regulatory approvals, the company noted.
About FinlandiaFinlandia was established in 1970 and is a leading vodka brand in Central and Eastern Europe with annual volumes of 2.7 million cases globally.
”Finlandia vodka, produced by Anora from the pure natural ingredients of Finnish barley and water, is an important part of Anora’s history and heritage, first as brand owner and later as the producer for global markets pursuant to a strategic partnership with Brown-Forman," said Pekka Tennilä, CEO of Anora Group Plc.
"We look forward to continuing and deepening the strategic partnership with Coca-Cola HBC."
Anora, which is the global distiller and bottler of Finlandia vodka, and is also the distributor of Finlandia vodka in Finland, Sweden and Norway, noted that the long-term collaboration it had with Brown-Forman will now transfer to Coca-Cola HBC.
Finlandia was sold by former owner Altia – which has since been rebranded to Anora – to Brown-Forman in multiple phases between 2000 and 2004.
Anora noted that it is known for the front-running work with sustainable production based on circular economy, own bioenergy plant, investments in regenerative farming and innovation in climate-smart packaging.
The company highlighted that it is committed to setting science-based targets.