ADVERTISEMENT

Szentkirályi founder, Pasquales acquire PepsiCo interests

Deals

Levente Balogh, who founded the Szentkirályi mineral water brand in 2003, has teamed up with his Italian partners, the Pasquale family, to acquire PepsiCoʼs holdings in Hungary - Szentkirályi-Kékkúti and Karlovarské minerální vody (KMV), the Pasquale mineral water business in the Czech Republic, revealed on Monday.   

Balogh teamed up with the Pasquale family in 2015, merging his Szentkirályi business with their Hungarian bottler Kékkúti in 2016, state news agency MTI recalled.

The acquisition of the PepsiCo businesses in Hungary will make the Szentkirályi-Kékkúti joint venture market leader on the local mineral water and soft drink market, and the leading producer in the region. 

Online business news portal vg.hu notes that with the latest deal, Szentkirályi-Kékkúti and KMV will become exclusive distributors and franchise right holders for PepsiCo soft drinks and food products in Hungary.

KMV will also acquire - independently of Balogh - PepsiCoʼs businesses in the Czech Republic and Slovakia. 

The acquisitions still require regulatory approval, but are expected to be closed in the first half of 2018.

Vg.hu notes that with the acquisitions, the KMV Group acquires an additional 900 employees and two plants, as a result of which its annual revenues are expected to increase by some USD 189 million.

ADVERTISEMENT

Fiscal, monetary policy partnership needed to rein in CPI - ... Analysis

Fiscal, monetary policy partnership needed to rein in CPI - ...

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Capital sees urban exodus during pandemic City

Capital sees urban exodus during pandemic

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.