Orrick assisted Coca-Cola in signing a preliminary agreement for the acquisition of Acque Minerali s.r.l. ("Mineral Waters" or "Lurisia"), a historic mineral water and soft drink company currently jointly controlled by the private investment fund IDeA Taste of Italy, managed by DeA Capital Alternative Funds SGR; the Invernizzi family; and Eataly Distribuzione, assisted by FIVELEX Studio Legale.
The value of the company was agreed at €88 million, subject to price adjustment as per market practice. The completion of the acquisition is subject to certain conditions and is expected by the end of 2019. As part of the transaction, Piero Bagnasco, current Chairman and Chief Executive Officer of Lurisia, and Alessandro Invernizzi, representatives of two of the selling shareholders, will remain on the Board of Directors of Acque Minerali in order to ensure business continuity.