Czech company to buy Nestléʼs Hungarian mineral water unit

Telco

Czech Karlovarske Mineralni Vody (KMV) is planning to buy Hungarian mineral water producer Kékkúti, currently owned by Nestlé Waters, which is part of the Nestlé group, Kékkúti (also known as Theodora) told Hungarian news agency MTI.

Nestlé Hungária, also owned by the Nestlé group, will not be affected by the transaction, the news agency said. KMV said it will further employ the existing 110 employees.

According to Kékkúki, KMV is the largest mineral water bottler in the region, and its entering the Hungarian market promises further investment.

MTI noted that Kékkúti is one of Hungaryʼs largest mineral water companies and reported HUF 1.11 bln in losses on revenue of HUF 5.04 bln in 2013.

The buyer, KMV, is present in the Czech Republic, Slovakia, Austria, Germany, Poland and Ukraine, with a total headcount of 750.

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