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GREECE: Perrier makes Greek acquisition in run up to Olympics

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Perrier Vittel, a subsidiary of the Nestle group, has said it has bought a 51% stake in the Greek bottled water delivery company Aqua Spring.

The group hopes the acquisition will enable it to consolidate its position in the delivery of bottled water to offices and homes in Europe.

In a statement has issued a statement, Perrier said Aqua Spring had a indicating turnover of €2m and accounted for 30% of the market.

The company expects the volume of Aqua Spring activities have increased threefold by Summer 2004, when the Greek capital Athens is to host the Summer Olympic Games, with growth continuing at a double digit rate after that.

Perrier Vittel#;s Greek operations already include the distribution of its Perrier, Vittel and San Pellegrino brands, and the exploitation of its local brand Korpi, the second domestic bottled water brand with a market share of 18.5%.


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