The Polish soft drinks and mineral water producer Hoop has agreed to acquire a 50% stake in the Russian soft drinks and alcohol producer Megapak. A contract will be signed by mid-December, the Polish press reported today.

Reports quoted the deputy chairman of Hoop, Marek Jutkiewicz, as saying that although the deal had been expected to have been signed by October the size of the deal had delayed it.

The reports estimated the deal to be worth some US$15m. The proceeds of Hoop's recent IPO will be used to pay for the acquisition.