In Hungary, Nestlé Waters has revealed plans to sell mineral water producer Kékkúti to Czech bottled water company Karlovarske for an undisclosed sum.
The deal represents an opportunity for Karlovarske – the region’s largest mineral water bottler – to invest significantly in the Hungarian market through the acquisition of Kékkúti, which produces the Theodora brand of water products.
The acquisition would coincide with poor financial returns for the Hungarian firm. Despite being one of the largest mineral water companies in the country, Kékkúti reported a loss of roughly $3.9m on $17.6m’s worth of revenues in 2013.
Karlovarske’s brands include Mattoni and Granini, and the company also holds distribution rights over a number of products from Schweppes and Dr Pepper. Employing 750 people, it is present in a number of countries across central Europe, including Germany, Czech Republic, Slovakia and Poland.
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