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World Famous Hungarian Mineral Water Bottler Merges Into Italian Holding

2015.04.30.

Hungarian mineral water bottler Szentkirályi Ásványvíz has merged into a joint venture majority-owned by Italy’s Pasquale family, the owners announced in Budapest. The Pasquale family has also acquired recently Hungarian mineral water bottler Kékkúti Ásványvíz from Nestlé through its Czech bottler Karlovarské Minerálni Vody. The Holding, including the parent company and its interests, will be a key player in European terms as well, with annual sales of over one billion litres in the market of mineral water and mineral water-based products, Szentkirályi said in a statement.

Szentkirályi owner Levente Balogh, who holds the minority stake in the JV, dubbed Central European Mineral Water Holding (CEMW), said his company had wanted to become a multinational for years, but had not found the right strategic investor in Hungary. A number of investors have wanted to buy Szentkirályi, but the Pasquale family was the only one that saw the business’s further development as a strategic investor and an equal, he added. He said capacity developments would be necessary for which the owners would supply funding.

The history of Szentkirályi mineral water all goes back to 1989 when the owner of Vitapress Kft., Sándor Balogh discovered it. The start-up family business began to produce soft drinks and soft drink syrups in Szentkirály, 20 km from the town of Kecskemét. In 2004 Szentkirályi mineral water was awarded as the best mineral water in the world by a professional jury of the Aqua-Eauscar Award in Paris. Hungary’s market leader mineral water brand is famous for its exceptionally clear water, which contains a high level of calcium but is free from nitrite and nitrate.

via hungarymatters.hu, portfolio.hu and szentkiralyi.hu photo: János Marjai – MTI