Polish mineral water producer Karlovarské Minerální Vody (KMV) has signed a binding agreement to acquire Bulgarian bottler Quadrant Beverages.
The deal is subject to approval by the Bulgarian Commission for the Protection of Competition and is expected to be completed in the first half of 2017.
The acquisition is part of KMV’s strategy to expand into other foreign markets and follows the successful takeover of two leading Hungarian bottling plants (Kékkúti Ásványvíz and Szentkirályi Ásványvíz).
Quadrant Beverages is the official bottler of PepsiCo products in Bulgaria, including Pepsi, Mirinda, 7Up, Lipton and other brands.
According to Bulgarian daily Kapital, the consolidated turnover for 2016 of Quadrant Beverages and its subsidiary KB Distribution amounted to BGL 32.6 million (€16.6 million) last year, an increase of 7.5% on an annual basis.
KMV is the largest producer of mineral and spring water in the Czech Republic. It bottles the mineral and spring water brands Mattoni, Magnesia and Aquila that are exported them to more than 20 countries worldwide.
According to the chief executive of KMV, Alessandro Pasquale, the company is also working on a long-term deal with Pepsi to co-operate in marketing its beverages in some Central European countries.
© 2017 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
