Karlovarske Mineralni Vody (KMV), the largest distributor of non-alcoholic drinks in Central Europe, and PepsiCo Inc, a global food and drink company which operates in more than 200 countries and territories throughout the world, agreed a joint investment, that is, the purchase of the 100% ownership in the Serbian company Knjaz Milos, announced PepsiCo.
The transaction entails the purchase of the production capacities of Knjaz Milos in Serbia, as well as the well positioned brands such as Knjaz Milos, Aqua Viva, Guarana, ReMix, Gusto and others. The transaction will be finalized after the authorization by anti-monopoly commissions in the markets of Serbia and Montenegro, which is expected to happen in the third quarter of 2019.
Knjaz Milos, whose headquarters are located in Arandjelovac, has operated for over 200 years and is one of the biggest producers of mineral water and non-alcoholic and energy drinks in Serbia.
PepsiCo and KMV are cooperating successfully in Central Europe. KMV is the producer and distributor for PepsiCo's drink portfolio in the Czech Republic, Hungary, Slovakia and Bulgaria, as well as the distributor for PepsiCo's snack portfolio in the Czech Republic, Slovakia and Hungary.
– The new partnership endeavor confirms our common vision of building a sustainable, long-term business in the region, which will provide the company, its clients and its employees with new possibilities of growth and development. With the joined forces of KMV's and Knjaz Milos' portfolios, we will ensure the highest value for clients and consumers – stated Alessandro Pasquale, the CEO of KMV.
– The partnership of PepsiCo and KMV has been very successful so far and this acquisition is an opportunity for additional development and strengthening of our presence. We are very satisfied that KMV is our partner in this business endeavor as well – emphasized Christophe Guille, Senior Vice President GM, Central Europe, Great Balkans & DACH PepsiCo.
The exclusive financial consultant of KMV and PepsiCo in this transaction is Raiffeisen Bank International AG, whereas the legal advisors are Clifford Chance and Jankovic Popovic Mitic.
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