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.