KMV and PepsiCo Acquire Knjaz Miloš from Mid Europa and Blue Sea Capital

Blue Sea Capital is pleased to announce the signing of an agreement for sale of Knjaz Miloš, the leading producer of mineral water and non-alcoholic beverages in Serbia and the surrounding region, to a joint venture between Karlovarské Minerální Vody (“KMV”) and PepsiCo, Inc. (“PepsiCo”). The transaction is subject to customary competition authority clearance and is expected to close in Q3 2019.
Blue Sea Capital participated in the investment consortium led by Mid Europa Partners that invested in Knjaz Miloš in 2015 together with Imlek and Bambi, the leading regional dairy and biscuit producer, respectively, forming the consumer group – Moji Brendovi. Knjaz Miloš produces iconic brands of beverages in Serbia, including Knjaz Miloš carbonated water, Aqua Viva still water and a line of energy drinks under the Guarana brand. The company’s subsidiary Natura serves over 15,000 homes and offices with water under the Aqua Una brand.
Sаša Galić, Managing Partner of Blue Sea Capital, said: “We are proud that a global beverage company has recognised the strength of the management team and Knjaz Miloš’ brands. The management team rejuvenated the company’s portfolio, introduced new brands and increased the appeal to young consumers, positioning the company for future growth. After the acquisition of Bambi by Coca-Cola HBC, this transaction further proves the attractiveness of investment in the ex-Yugoslavia region.”

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