Install

Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Coca-Cola Buys Aquavision Plant

Coca-Cola Hellenic Bottling, the world's second-largest bottler of Coke drinks, is buying a plant near Moscow for 191.5 million euros ($261 million) to boost capacity in one of its fastest-growing markets.

The Athens-based company will acquire 100 percent of Aquavision, a ready-built base near Moscow, statement Thursday said. The acquisition, which will be paid for with cash and short-term debt, includes Aquavision's newly introduced juice products, the company said.

In March, Coca-Cola HBC said it would also spend about $120 million to build a 14th plant in the country. Sales in emerging markets such as Russia grew 21 percent in the first quarter this year, more than in markets such as Italy and Poland.

The acquisition provides "immediate access to state-of-the-art production facilities and significant expanded capacity," CEO Doros Constantinou said in the statement.