Valvis Holding, a company owned by serial investor Jean Valvis, has invested EUR 12.5 million in technologies for the new mineral water brand Aqua Carpatica and expects it to reach a market share of 10 percent in the next two years. The production unit was set up in Vatra Dornei and includes two springs, with an annual capacity of 92 million liters. The company expects to sell around 40 million liters next year, according to Valvis.  Aqua Carpatica is produced by Carpathian Springs, a company of the Valvis Holding, which was set up in 2000.

Valvis, a Greek-born investor with Swiss citizenship, started to invest in Romania in the early 90s. This is the second mineral water business Valvis sets up in Romania, after Dorna Apermin in 1994. The company was sold to Coca Cola in 2002. Valvis also created the Dorna Lactate, a dairy company in 1998, and sold LaDorna to Lactalis group in 2008. Apart from the new mineral water business, Jean Valvis has recently launched a wine business, Domeniile Samburesti.

The Aqua Carpatica mineral water brand enters a market shared by several brands: Romaqua (with Borsec and Aquatique brands), Coca Cola (with Dorna, Poiana Negri and Izvorul Alb). Other are preparing to enter the market: United Romanien Breweries Bereprod has also bought two springs in the Borsec area to produce under the Bilbor brand,  while Coca Cola was looking for more mineral water sources for new production units.  Ioan Balan, former majority shareholder of dairy market Covalact, has bought the mineral water division from Heineken, to produce Cheile Cibinului and Cezara brands.

editor@romania-insider.com