Karlovarské minerální vody (KMV), the largest non-alcoholic drinks distributor in Central Europe and PepsiCo Inc, a global food and drinks producer agreed to jointly purchase of the 100 percent ownership in Serbia’s Knjaz Milos company, the Beta news agency reported on Wednesday.
The transaction covers the acquisition of Knjaz Milos’ production capacity in Serbia as well as already well-positioned brands like Knjaz Milos, Aqua Viva, Guarana, ReMix, Gusto and others.
The finalisation of the transaction is expected in the third quarter of 2019, following approval by the anti-monopoly commissions in Serbia and Montenegro, the PepsiCo, with businesses in over 200 countries, said in a statement.
Knjaz Milos company headquartered in the central town of Arandjelovac, exist over 200 years and is among the largest producers of mineral water, non-alcoholic and energy drinks in Serbia. Since 2015, its owner was the Mid Europa Partners, an investment fund from London.
“A new joint venture confirms a common vision of building a sustainable, long-lasting business in the region with fresh possibilities for growth and developing of the company, consumers and our employees. With KMV and Knjaz Milos joint forces we will provide the highest value for consumers,” the KMV CEO Alessandro Pasquale said.
KMV group has 2,400 employees and leads companies in Czech Republic, Hungary, Slovakia and Bulgaria. It exports to over 20 countries.
PepsiCo had a net profit of over 64 billion dollars in 2018.