The founding firm of mineral water brand Isklar has sold a 50% stake in the business to India-based firm Siva Group for US$22m.
The deal means that Isklar will be managed by a 50-50 joint venture between its founder firm, Middle East-based SABCO Group, and Siva Group, an Indian congolomerate with interests in telecoms, engineering and logistics.
Go deeper with GlobalData
SABCO, which also operates in shipping and logistics, hopes that the deal will raise more investment for Isklar, which is sourced from Norwegian glacial mineral water.
“The Siva Group has always believed in spotting business opportunities ahead of time so this is a significant vote of confidence in our growing brand,” said Peter Krogh, CEO of the Isklar brand, yesterday (11 March).
Isklar was launched in the UK in 2008 as a premium, everyday bottled water.
It is listed in major retailers Tesco, Sainsbury’s and Waitrose and is also available in high-end stores, including Harrods, as well as convenience stores.
Subscribe to Just Drinks
Join over 80,000 beverage industry professionals by unlocking full access for just $1 (plus VAT if applicable)
Already a Member? LOGIN HERE
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataJust Drinks membership gives you:
- Unlimited access to Just Drinks content including in-depth analysis, exclusive blogs, industry executive interviews and management briefings
- Unbeatable market coverage from wine and beer, to soft drinks
- Unrivalled drinks industry comment from Dean Best, James Beeson and leading industry experts
Want multi-user access? Explore our multi-user & corporate memberships
70% of the beverage companies in the Forbes Global 2000 use Just Drinks
