Czech soft drink producer Kofola has acquired a 40 per cent stake in its rival Slovak company Water Holding, boosting its position in the mineral water and cola market, Hospodárske Noviny has reported.
Kofola recently bought a company called Wad Group, acquiring a 40 per cent stake in Water Holding, the 100 per cent owner of three mineral water producing companies in Slovakia.
Kofola, which already owns another major Slovak-based mineral water company Rajec, is ready to co-operate with the remaining shareholders in Water Holding on markets in Slovakia and elsewhere, Kofola chief executive officer Jannis Samaras said
According to Kofola PR Manager Jaroslava Musilová, Water Holding has in its portfolio domestic mineral water, which Kofola has been lacking for a long time. The transaction is now subject to an assessment on the part of the competition authorities, to evaluate whether the move will endanger competition on the market.
Hospodárske Noviny observes that by acquiring the stake in Water Holding, Kofola could now catch up with its biggest rival on the market in terms of revenue, Coca-Cola.
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