RUSSIA: Borjomi Group buys Edelweiss - report
The Borjomi Group has made its first water acquisition in Russia, according to local reports.
Russian daily newspaper Kommersant said earlier this week that IDS Borjomi Group has acquired Edelweiss L from "companies affiliated with Gazprom".
Although the purchase amount was not disclosed, analysts were cited in the report as valuing Edelweiss L's assets at between US$25m and $35m. The Russian company was founded in 1997 and owns the Lipetskaya and Edel Aqua water
brands in Russia. Last year, Edelweiss L's turnover was RUB537.7m (US$).
IDS Borjomi owns the Borjomi works in Georgia as well as the Mirgorodskaya, Morshinskaya and Truskavetskaya mineral water plants in Ukraine, controlling about 25% of the Ukrainian mineral water market and 60% of the Georgian market.
The group is owned by private equity firm Salford Capital Partners.
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