Swiss entrepreneur to sell beverage distribution firm in Romania for EUR 25 mln

Swiss entrepreneur of Greek origin Jean Valvis, the founder of the Aqua Carpatica (mineral water) and Sâmburești (wine) brands in Romania, is selling a 47.8% stake in the beverage distribution company Valvis Holding Distribution, in which he holds 86%, Profit.ro reported.

He expects a price of EUR 24.8 mln, which puts the value of the whole business at EUR 58.2 mln.

The company posted a turnover of almost RON 300 million (EUR 64.5 mln) in 2018 and a net profit of RON 2.5 mln (EUR 0.52 mln).

The other four shareholders of Valvis Holding Distribution are also going to transfer 9.5% of the company's shares at the same price per share, resulting in an overall majority stake of 54.25% of the distribution company.

Separately, Valvis announced that Carpathian Springs, the company that produces the Aqua Carpatica mineral water brand, in which he owns 80% of the shares, will contract a EUR 15 mln loan from Unicredit. The company will use the money to upgrade and increase its bottling capacity. The loan will be contracted for 7 years.

In 2018, Carpathian Springs posted a net profit of over RON 53 mln (EUR 11.4 mln) and a turnover of RON 229 mln (EUR 49.2 mln).

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