September 25 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Wednesday that its board has approved a project envisaging the investment of 10 million euro ($11 million) in preferred equity in Czech bottler Karlovarske mineralni vody (KMV), which is active in several countries in Central and Eastern Europe, including Bulgaria.
"The project entails financing of the company's acquisition of PepsiCo bottlers in countries where the EBRD invests," the lender said in a project summary.
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Outside the Czech Republic, KMV is active in the Slovak Republic, Hungary, Bulgaria and Austria.
In 2017, KMV acquired Bulgarian bottling company Quadrant Beverages, which is the official bottling company of PepsiCo products in Bulgaria.
KMV, established in 1873, is the biggest producer of mineral and spring water in the Czech Republic. The company bottles mineral and spring water of the Mattoni, Magnesia and Aquila brands and exports them to more than 20 countries worldwide.
($ = 0.9091 euro)