On 2 August 2022, PepsiCo Inc. announced a strategic agreement with AQUA Carpatica, under which PepsiCo acquired a minority stake of 20% in AQUA Carpatica, a premium natural mineral water brand bottled at source in the Carpathian Mountains.
The strategic agreement provides PepsiCo with distribution rights for Romania and Poland with opportunities to expand into other markets, including the United States. AQUA Carpatica will complement PepsiCo’s existing premium beverage portfolio in Europe with plans to expand globally.
The value of the transaction was not disclosed.
“With its excellent taste and premium positioning, AQUA Carpatica is a perfect complement to PepsiCo’s existing premium beverage portfolio,” said Silviu Popovici, CEO of PepsiCo Europe. “We are confident that AQUA Carpatica’s strong brand equity will resonate with our customers and consumers globally.”
“We are honored to have assisted PepsiCo with its expansion in the European natural mineral water industry. This truly landmark transaction with a premium Romanian brand, brought great satisfaction to the team. We would like to thank PepsiCo for the trust they placed in EY ” said Peter Latos, head of Consulting, Strategy and Transactions for EY Romania and Moldova.
EY assisted PepsiCo throughout the process, including financial and tax due diligence and negotiation of the share-purchase agreement. The EY team in Romania was coordinated by Peter Latos and Alina Arărău for financial assistance and by Andra Cașu and Cristina Clujescu for tax assistance. The EY team in the United States was coordinated by Philippe Leroy and Pierre Bonneau.