PepsiCo has declined to comment on reports it is in talks to acquire Serbian mineral water and juice bottler Knjaz Miloš.

Details of the deal between the US drinks giant and the Serbian bottler, owned by UK-based investment fund Salford Capital Partners, are understood to be under wraps until talks reach their final stage.

A spokesperson for PepsiCo told just-drinks it was not in a position to provide a statement: "We never comment on rumours."

Salford Capital Partners also owns Serbian dairy Imlek, confectionery maker Bambi-Banat, and a number of other dairy firms in Bosnia, Montenegro and Macedonia through its Dutch-registered unit Danube Foods