Karlovarské Minerální Vody (KMV) and PepsiCo will acquire the Serbia-based mineral water and non-alcoholic beverage brand, Knjaz Miloš.
The two partners will buy the company, which is a leading player in Serbia and the former Yugoslavia region, from private equity investor Mid Europa Partners.
The transaction, which includes the sale of Knjaz Miloš' production assets in Serbia, is subject to approval from the competition authority in Serbia and Montenegro.
The value of the deal, which is expected to close in Q3 2019, has not been disclosed.
In 2015, Mid Europa acquired Knjaz Miloš in association with regional dairy and confectionery companies Imlek and Bambi and set up a new brand called Moji Brendovi.
During this period, Knjaz Miloš introduced product and packaging innovations, launched new brands, and renovated old ones.
It resulted in the business doubling in size during Mid Europa's ownership.
Product Range
Knjaz Miloš has more than 200 years of corporate history and its product portfolio includes Knjaz Miloš, Aqua Viva, Guarana, Remix, and the juice brands Gusto and Golf.
Czech-based KMV is the largest non-alcoholic beverage distributor in Central Europe.
It exports to 20 countries worldwide and owns foreign mineral water brands in Austria and Hungary.
In Bulgaria, Slovakia, and Hungary, KMV is the exclusive producer and distributor of PepsiCo brand soft drinks.
It also distributes PepsiCo snacks in the Czech Republic, Slovakia, and Hungary.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.
