Coca-Cola Taps Into Hungary’s Love Of Coffee
- 23 Jul 2020 7:41 AM
Coca-Cola HBC Magyarország’s share of the premium coffee market in Hungary will grow to 20% by May next year, following the company’s acquisition of café chain Costa Coffee, a senior executive said on Tuesday.
America’s Coca-Cola company purchased Costa Coffee for $4.9 million last year.
In Hungary, slightly more than two thirds of revenues will come from the retail sector in the first few years, while hotels, restaurants and catering will account for 30% of revenues, said Márton Vajda, head of the coffee and alcohol division.
This year, Coca-Cola coffee products will appear at over 1,200 sales points and in 200 restaurants or cafés.
Revenues of Coca-Cola HBC Magyarország rose to Ft 138 billion last year from Ft 131 billion in 2018.
The company has invested Ft 120 billion in Hungary to date.
The size of Hungary’s retail coffee market was Ft 63 billion last year, rising by 6.4% from Ft 59 billion a year earlier, market researcher Nielsen reported.
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