(RTTNews) - PepsiCo, Inc. (PEP), food and beverages major, said on Tuesday that it has inked a deal to buy 20 percent equity stake in Romanian spring water brand- AQUA Carpatica, for an undisclosed sum.
According to the deal, PepsiCo will have rights to distribute the spring water in Romania and in Poland with opportunities to expand into other markets, including the U.S.
PepsiCo said that the premium water brand will round out its portfolio of offerings in Europe with plans to expand globally.
Silviu Popovici, CEO of PepsiCo Europe, said: "With its excellent taste and premium positioning, AQUA Carpatica is a perfect complement to PepsiCo's existing premium beverage portfolio…"
Founded in 2010, AQUA Carpatica product line includes still spring water and natural mineral waters that are bottled at the source in Romania's pristine Carpathian Mountains.
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