Polish food & beverage company Maspex Wadowice has signed a deal to acquire the Romanian bottled water firm Rio Bucovina, according to a report in Business Review.
The acquisition of the bottled water manufacturer represents the third acquisition in Romania for Maspex Wadowice in recent years, demonstrating the company’s interest in the country which, according to company representatives, is the firm’s second most important market after Poland.
“We haven’t been present so far on the bottled water market and this is a growing segment. It presently represents 50 percent of the non-alcoholic market compared to the soft drinks category which represents only 10 percent. The Bucovina brand increases our competitiveness significantly and will consolidate our position locally”, said Krzysztof Pawiński, the president of the board of directors of Maspex Wadowice.
Details of the value of the deal, which includes the acquisition both of three production facilities and of the Bucovina brand, have not been disclosed. The transaction is subject to approval of the Romanian Competition Council.
Source: Business Review