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PepsiCo to buy 20% stake in Romania's AQUA Carpatica

PepsiCo to buy 20% stake in Romania's AQUA Carpatica Source: PepsiCo, AQUA Carpatica

BUCHAREST (Romania), August 2 (SeeNews) - U.S.-based food and beverage company PepsiCo said on Tuesday it has entered an agreement to acquire a 20% stake in Romanian spring water company AQUA Carpatica.

Under the agreement, PepsiCo will have rights to distribute the spring water in Romania and in Poland with opportunities to expand into other markets, including the U.S., PepsiCo said in a press release.

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"With its excellent taste and premium positioning, AQUA Carpatica is a perfect complement to PepsiCo's existing premium beverage portfolio," PepsiCo Europe CEO Silviu Popovici said.

The value of the deal was not disclosed.

"I am pleased that PepsiCo shares our vision to grow the brand in Europe and globally," AQUA Carpatica founder Jean Valvis said.

Established by Swiss-Greek businessman and entrepreneur Jean Valvis in 2010, AQUA Carpatica products portfolio includes still spring water and naturally sparkling mineral waters that are bottled at the source in the Carpathian Mountains. By 2014, AQUA Carpatica became the best-selling natural spring water nationally, and by 2016 it established an international presence in 16 countries across four continents.

PepsiCo, Inc. is a U.S.-based multinational food, snack, and beverage corporation which generated more than $79 billion (77 billion euro) in net revenue in 2021.

($= 0.9743 euro)