KMV and PepsiCo joint venture to acquire Serbian mineral water and soft drinks producer Knjaz Miloš
Karlovarské minerální vody (KMV), the largest distributor of non-alcoholic drinks in Central Europe, and PepsiCo, Inc., a global food and beverage company operating in more than 200 countries and territories around the world, have agreed to buy 100% percent of the shares of Serbian mineral water and soft drinks producer Knjaz Miloš, through a joint venture.
The transaction includes the sale of Knjaz Miloš manufacturing assets in Serbia and well established brands like Knjaz Miloš, Aqua Viva, Guarana, ReMix , Gusto and others.
The transaction is subject to antitrust authorities approval in Serbia, and Montenegro and is expected to be finalized in the 3rd quarter of 2019.
With a history of over 200 years, Knjaz Miloš, based in Aranđelovac, Serbia is among the largest producers of mineral water, soft and energy drinks on the Serbian Market.
PepsiCo and KMV have a well established business relationship in Central Europe. KMV is the producer and distributor of the PepsiCo beverages portfolio in the Czech Republic, Hungary, Slovakia and Bulgaria and the PepsiCo snacks portfolio distributor in the Czech Republic, Slovakia and Hungary.
”This new alliance confirms our common vision of building a sustainable long-term business in the region and will give considerable growth opportunities for the business, the customers as well as for the employees. The combined strengths of KMV and Knjaz Miloš’s portfolios will provide best in class service for customers and consumers“, said Alessandro Pasquale, KMV CEO.
“Collaboration between PepsiCo and KMV has been very successful and, with this transaction we see significant potential to grow and expand our footprint. We are delighted to partner with KMV on this new journey”, said Christophe Guille, GM Vice President Central Europe-Greater Balkans&DACHPepsiCo.
Raiffeisen Bank International AG acted as exclusive financial adviser to KMV and PepsiCo, Clifford Chance, Jankovic Popovic Mitic as legal adviser
Andrea Brožová, PR Manager
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