Atlantic Grupa has invested €11m ($12.8m) to buy a minority stake in hydration brand Waterdrop.
In a statement, the Croatian FMCG group described Waterdrop as a “distinctive international brand with significant long-term growth potential”.
The investment gives Atlantic Grupa a seat on Waterdrop’s investment committee, providing it with “direct insights into the business while actively supporting the brand’s future development and growth”.
Founded in Vienna, Waterdrop sells sugar-free “microdrink” cubes made with fruit and plant extracts that flavour water as an alternative to traditional soft drinks.
The company manufactures its products at its own facility in Germany. The business generates annual revenue of about €150m and is “operating profitably”, Atlantic Grupa said.
The deal builds on what Atlantic called a “successful distribution partnership” with Waterdrop in Austria, Croatia, Serbia and Slovenia.
Lada Tedeschi Fiorio, Atlantic Grupa group vice president for corporate strategy and investments, said: “Our collaboration has developed strongly across our core European markets, where we see significant potential to further expand the brand together.”
Martin Donald Murray, Waterdrop's CEO, added: “We have built a strong foundation together across key European markets, and this next step allows us to deepen that collaboration even further.”
In its 2025 annual report, Atlantic Grupa said it would pursue “selective investment in new opportunities” and proactive M&A to strengthen growth categories.
Atlantic Grupa’s portfolio includes Argeta savoury spreads, Cedevita beverages, Barcaffè coffee, and Donat mineral water.
In the first quarter of 2026, its revenue rose 14.5% year-on-year to €300.7m, while operating profit jumped 58.5% to €16.3m and net profit increased 78% to €10.8m.
In 2025, Atlantic generated revenue of €1.2bn, up 10.1%, with operating profit rising 14.9% to €52.6m and net profit up 20.9% to €32.1m.
The company expects 2026 revenue above €1.25bn, EBITDA above €110m, and capex above €60m.
