AGREEMENT REACHED: PepsiCo and Czech giant take over KNJAZ MILOS
Karlovarske mineralni vody (KMV), the largest distributor of soft drinks in Central Europe, and PepsiCo Inc., a global food and beverage producer operating in more than 200 countries, have agreed on a joint investment, i.e. the acquisition of a 100% stake in the Serbian company Knjaz Milos. This transaction involves purchasing the production capacities of the company Knjaz Milos in Serbia, as well as well-positioned brands such as Knjaz Milos, Aqua Viva, Guarana, ReMix, Gusto, and others. The transaction is expected to be completed during the third quarter of 2019, after the approval process by the antitrust commissions on the markets of Serbia and Montenegro, according to a statement from PepsiCo. The Knjaz Milos company, based in Arandjelovac, has a business history of more than 200 years and it is one of the largest producers of mineral water, soft drinks and energy drinks in Serbia. Since 2015, it has been owned by the Mid Europa Partners investment fund based in London.