CZECH: Karlovarske snaps up Waldquelle Kobersdorf stake
Czech mineral water company Karlovarske Mineralni Vody has acquired a quarter of Austrian drinks firm Waldquelle Kobersdorf.
The Czech company confirmed to just-drinks today (17 August) that it has bought a 25% stake in the Austrian soft drinks and water firm. The company declined to give a value for the transaction.
Karlovarske purchased the stake from Raiffeisen Landesbank in Austria. According to local reports, the bank has not ruled out selling more of its holding in Waldquelle, as mineral water is not its main production activity.
The spokesperson declined to give further details of the purchase.
Karlovarske produces around 885m litres of mineral water a year, with turnover in 2006 totalling EUR184m (US$248.6m). According to local reports, the company controls around 80% of the Czech mineral water market, through brands including Mattoni, Dobra voda, Magnesia and Aquila.
Last year, Waldquelle saw turnover reach EUR17m.
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