PepsiCo Inc PEP has entered into a strategic agreement with Romanian spring water AQUA Carpatica, which was founded by Swiss-Greek businessman and entrepreneur Jean Valvis in 2010.
Under the agreement, PepsiCo will own a 20% equity stake in AQUA Carpatica. The financial terms were not disclosed.
PepsiCo will have the rights to distribute the spring water in Romania and Poland with options to expand into other markets, including the U.S.
AQUA Carpatica’s product line includes still spring water and naturally sparkling mineral waters bottled at the source in Romania’s pristine Carpathian Mountains.
Its premium sparkling natural mineral water is nitrate- and sodium-free and provides natural electrolytes.
“With its excellent taste and premium positioning, AQUA Carpatica is a perfect complement to PepsiCo’s existing premium beverage portfolio,” said PepsiCo Europe CEO Silviu Popovici.
Price Action: PEP shares are trading lower by 0.70% at $175.71 on the last check Tuesday.
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