The Polish Maspex Wadowice Group (Maspex), one of the largest companies in the food industry in CEE, agreed to buy 99.84% of Aquarex-V AD, a Bulgarian producer of natural mineral water under the brand Velingrad, for an undisclosed amount.
With this acquisition, the investment company will enter a new segment of the Bulgarian market. In 2005, Maspex Group acquired a leading producer of juices, nectars and drinks in Bulgaria, operating the brands Queen’s, Tedi, LaFesta, Ekland tea and Coffet.
The management of Maspex believes the mineral water segment in Bulgaria will continue to grow. The company plans to invest in sales development, production modernization and market expansion for “Velingrad” mineral water. Aquarex-V owns a concession licence for mineral water use until 2025.
