PepsiCo forms JV to buy Serbian mineral water firm Knjaz Milos | Progresiv
PepsiCo is to take control of Serbian mineral water producer Knjaz Miloš through a new joint venture. 
The soft drinks company agreed late last week to buy Knjaz Miloš in partnership with its Czech bottler Karlovarské Minerální Vody (KMV). The purchase is from private-equity group Mid Europa Partners and the deal is expected to complete in the third quarter of this year.
PepsiCo and KMV have established business relationships in Central Europe: KMV is the exclusive producer and distributor of PepsiCo soft drinks in Czech, Hungary, Slovakia and Bulgaria.
"This new connection ... will provide growth opportunities not only for companies but also for our customers and employees," said KMV CEO Alessandro Pasquale.
Christophe Guille, PepsiCo's general manager of Central Europe-Greater Balkans, added: "The collaboration between PepsiCo and KMV has been very successful, and we see significant potential for growth and expansion of our common business history."
Financial details have not been disclosed.
Headquartered in central Serbia, Knjaz Miloš dates back to 1811 and is the largest producer of mineral water in the former Yugoslavia region. (www.just-drinks.com)
