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).

editor@romania-insider.com

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