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.