ROMANIA: Rio Bucovina takeover by Tymbark Maspex, close to completion | Progresiv

The Competition Council authorized the takeover of natural mineral water bottler Rio Bucovina by Polish group Maspex Wadowice, owner of Tymbark. This is the third acquisition of Maspex Wadowice group on the Romanian market and the transaction includes the acquisition of three manufacturing facilities of Rio Bucovina, located in Vatra Dornei, Timisoara and Giurgiu, as well as the Bucovina brand.

"Following the analysis, the Competition Council found that the transaction does not raise significant obstacles to effective competition on the Romanian market or on a substantial part of it, in particular by creating or strengthening a dominant position", according to the Council’s press release.

Rio Bucovina is one of the largest manufacturers of natural mineral water on the Romanian market, the company being owned by Mukhles and Mahmoud Omar, brothers of Syrian businessman Omar Hayssam. Through this acquisition, the company will diversify its beverages portfolio with a strong brand, Rio Bucovina being the second largest player in terms of volume, with a market share of nearly 14% in the bottled water market (data for October-November 2015 period), according to AC Nielsen data. Last year, Rio Bucovina reported business of approximately 40 million euro, up by 18% compared to 2014.

Romania is for Maspex the second largest market after Poland, both in terms of turnover and investments as well as purchasing power. Last year, the company reported business of 330 million lei locally, up by 10% over the previous year. Currently Maspex is known in Romania as a manufacturer of instant products, juices, nectars and soft drinks, pasta, crackers and pretzels.