- 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.
- Photo Via Company
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.