PepsiCo took over 20% of the shares of Carpathian Springs, the producer of Aqua Carpatica mineral and spring water bottler, controlled in Romania by the Greek businessman Jean Valvis.

PepsiCo will also hold exclusive distribution rights on specific existing channels in Romania, Poland and other countries, with the prospect of expanding the global distribution area to other markets, including the United States of America.

Aqua Carpatica is a brand created by Swiss-Greek entrepreneur Jean Valvis in 2010 and distributed since 2016 on 16 foreign markets. Valvis also created the Dorna Apemin waters brand, later sold to Coca-Cola, and the LaDorna dairy brand later sold to Lactalis.

Last year, Carpathian Springs reported RON 333 mln (EUR 66 mln) and a profit of RON 46.9 mln (EUR 9 mln), according to Economica.net.

Jean Valvis, who remains the main owner of Carpathian Springs with an 80% stake, said that he expects a broader distribution of Aqua Carpatica and is mulling listing the shares of the company within several years.

"I am excited about the opportunity to join forces with PepsiCo to expand our footprint in Europe and explore opportunities to bring Aqua Carpatica and its health benefits to new consumers in new markets. In little more than a decade, Aqua Carpatica has become a beloved brand in Europe, which we aspire to list on the stock exchange in the future. I am delighted that PepsiCo shares our vision to grow the brand in Europe and globally," said Jean Valvis.

andrei@romania-insider.com

(Photo source: Facebook/Aqua Carpatica)