M&A Deal Summary

Karlovarské minerální vody a.s. and PepsiCo Acquire Knjaz Miloš a.d.

On June 5, 2019, Karlovarské minerální vody a.s. and PepsiCo acquired beverage company Knjaz Miloš a.d. from Salford Capital Partners

Acquisition Highlights
  • This is Karlovarské minerální vody a.s.’s 1st and PepsiCo’s 9th transaction in the Beverages sector.
  • This is Karlovarské minerální vody a.s.’s 1st and PepsiCo’s 1st transaction in Serbia.

M&A Deal Summary

Date 2019-06-05
Target Knjaz Miloš a.d.
Sector Beverages
Buyer(s) Karlovarské minerální vody a.s.
PepsiCo
Sellers(s) Salford Capital Partners
Deal Type Joint Venture

Target

Knjaz Miloš a.d.

Arandjelovac, Serbia
Knjaz Miloš a.d. is the largest producer of mineral water and energy drinks on the Serbian market. Knjaz Milos engages in beverages business in former Yugoslavia with an undisputed leadership in the mineral water market in Serbia and Montenegro and is number three in Macedonia and Bosnia. In addition to its mineral water activities, Knjaz Milos, through Guarana, is the number one player in the energy drink segment in Serbia & Montenegro and is the number one juice player in the Serbian HORECA channel.

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Buyer(S) 2

Buyer

Karlovarské minerální vody a.s.

Karlovy Vary, Czech Republic

Category Company
Founded 1873
Sector Beverages
DESCRIPTION

Karlovarské minerální vody, a.s. is the biggest producer of mineral and spring water in the Czech Republic. Karlovarské is the largest non-alcoholic beverage distributor. Karlovarské exports its KMV products to 20 countries worldwide and owns foreign mineral water brands in Austria and Hungary as its parent company.


DEAL STATS #
Overall 1 of 1
Sector (Beverages) 1 of 1
Type (Joint Venture) 1 of 1
Country (Serbia) 1 of 1
Year (2019) 1 of 1
Buyer

PepsiCo

Purchase, New York, United States

Category Company
Founded 1898
Sector Beverages
Employees318,000
Revenue 91.5B USD (2023)
DESCRIPTION
PepsiCo office in Columbia, Maryland.
PepsiCo office in Columbia, Maryland.

PepsiCo is a global food and beverage company. PepsiCo's brands include Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. Through its operations, authorized bottlers, contract manufacturers and other third parties, PepsiCo makes, markets, distributes and sells a wide variety of beverages, foods and snacks. PepsiCo was founded in 1898 and is based in Purchase, New York.


DEAL STATS #
Overall 23 of 27
Sector (Beverages) 9 of 10
Type (Joint Venture) 1 of 1
Country (Serbia) 1 of 1
Year (2019) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-19 CytoSport

Benicia, California, United States

CytoSport, Inc. is a manufacturer of muscle milk products and developer and marketer of premium sports nutrition products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-19 Pioneer Foods

Johannesburg, South Africa

Pioneer Foods is a producer and distributor of a range of branded food and beverage products. For shoppers around the world, Pioneer Foods is the food and beverage company that develops and delivers products that help them and their families realise their full potential and live better lives through the company's quest and purpose to consistently establish new and enhanced ways of producing, distributing, marketing and selling products. Pioneer Foods was founded in 1996 and is based in Johannesburg, South Africa.

Buy $1.7B

Seller(S) 1

SELLER

Salford Capital Partners

Belgrade, Serbia

Category Private Equity Firm
Founded 2001
Size Small
Type Sector Agnostic
DESCRIPTION

Salford Capital is a private equity firm focused on investing in companies through Central and Eastern Europe, as well as the former Soviet Union. Salford looks for opportunities where the firm can acquire controlling stakes in 'attractive but overlooked assets'. The Firm takes an active role in restructuring businesses and building value. Salford Capital was formed in 2001 and has offices in Belgrade, Moscow, London, and Tbilisi, Georgia.


DEAL STATS #
Overall 5 of 5
Sector (Beverages) 3 of 3
Type (Joint Venture) 1 of 1
Country (Serbia) 3 of 3
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-02 Moji Brendovi

Belgrade, Serbia

Moji Brendovi is a provider of milk and dairy products. Moji Brendovi is based in Belgrade, Serbia.

Sell -