April 26 (SeeNews) - Czech-based soft drinks producer Mattoni 1873 group became the sole owner of Serbian mineral water, water-bottling and fruit juice producer Knjaz Milos after acquiring the remaining 46.43% stake it did not own in the company from PepsiCo for 90 million euro ($96.6 million), Knjaz Milos said.
“By further investing in Knjaz Milos, we want to build its sustainable future through investments in quality products, innovations, and the creation of new opportunities for growth for the company and people,” said Mattoni group owner and president, Alessandro Pasquale, in a press release on Wednesday.
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“With the strength of the Mattoni Group, with full confidence in them and the continuity of our good results, we continue to develop Knjaz Milos as one of the leading producers of soft drinks in the Western Balkans,” said Knjaz Milos CEO, Marko Stankovic.
In August 2019, Karlovarske Mineralni Vody (KMV), a subsidiary of Mattoni 1873 group, and PepsiCo acquired Knjaz Milos from private equity firm Mid Europa Partners for an undisclosed sum.
Mattoni 1873 group, the largest producer of soft drinks in Central Europe, operates in eight countries, with eleven production plants, and 39 brands. It has 3,400 employees. Last year, the group sold almost two billion bottles.
($ = 0.9316 euro)