Szentkirályi, Kékkúti close first year of joint operation with profit

Deals

Hungarian mineral water bottlers Kékkúti Ásványvíz and Szentkirályi Ásványvíz had revenue of HUF 15 billion in the first year after their merger, up 13% from the two companiesʼ results in the previous year, Central European Mineral Water Holding (CEMW), the owner of the two companies told Hungarian news agency MTI yesterday.

In volume terms, sales came to 360 million liters of mineral water in 2015, up 14% from a year earlier.

At the same time, Hungaryʼs mineral water market grew 10.5% in value terms, according to Nielsen.

CEMW said Kékkúti has become profitable again after several loss-making years and Szentkirályi has strengthened its position as a result of the integration. The company plans to invest millions of euros in Kékkút, western Hungary, this year, they added.

CEMW was established in 2015 by Italyʼs Pasquale family, the owner of the Karlovarske Mineralni Vody Group, and by Levente Balogh, the owner of Szentkirályi Ásványvíz. CEMW Holding acquired Kékkúti Ásványvíz in March 2015 and Szentkirályi Ásványvíz in April 2015.

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