Greek-Swiss investor takes EUR 28 mln loans from Romanian lender

Greek-Swiss investor Jean Valvis, who owns the Romanian water bottling business Aqua Carpatica, will take EUR 28 million loans from local lender Unicredit Tiriac Bank. His companies will use the money to refinance last years’ investments. The Valvis Group owns several companies in the mineral water sector, agriculture and renewable energy. Some EUR 18 million of the total financing will go to Carpathian Spring, the company which owns the Aqua Carpatica brand. The company will refinance investments carried out at its factory in Panaci, eastern Romania. Jean Valvis has focused his efforts in turning AQUA Carpatica into an international brand, in the past years. He started exporting his mineral waters to the US, UK, Japan, China, Middle East, Russia, Moldova, Germany, and Hungary. “In a stagnant and conservative market, AQUA Carpatica has recorded spectacular sales growth form year to year, and for 2015 we estimate a 50% increase compared to last year,” Valvis said. His group also includes the Viti-Pomicola Samburesti winemaker, the Dorna Agri agriculture business, and the Terra Muntenia renewable energy company. “Agriculture and food industry represent Romania’s strategic sectors and we wish to finance these sectors increasingly more,” said Andrei Svoronos, head of Unicredit Tiriac Bank’s agriculture and food industry department. editor@romania-insider.com