KMV Expands into Hungarian Bottled Water Market
Karlovarské minerální vody (KMV), the biggest producer of mineral and spring waters in the Czech Republic and in Central and Eastern Europe, has agreed to acquire Kékkúti Ásványvíz, a leading manufacturer of bottled water in Hungary, from Nestlé Waters. The deal allows KMV to enter another European market in which the company intends to expand.
“We have an ambitious development plan for Kékkúti Ásványvíz. We want to approach Hungarian market in the same way as we succeeded in the Czech Republic or Austria. We will transfer our know-how in innovation, quality, experience in a highly competitive environment, customer orientation and product portfolio focusing on the healthy lifestyle of adults and children, to the Hungarian market. At the same time we will support local traditions and products,” says Alessandro Pasquale, chief executive of KMV.
According to the agreement with Nestlé Waters, KMV will continue bottling and the development of the existing portfolio of Nestlé Waters brands, such as Nestlé Aquarel, San Pellegrino, Perrier and Acqua Panna.
KMV began its European expansion in 2008, when it purchased Austrian company Waldquelle, which has become the second largest beverage company on the local market under the lead of the KMV. KMV currently operates in the Czech Republic, Slovakia, Austria, Germany, Poland and Ukraine..
According to data of the European Federation of Bottled Waters, Hungary is among the most developed markets in Europe in terms of the consumption of bottled water. In 2013, local consumption was 119 liters per capita.
