Wimm-Bill-Dann Mineral Water Division has acquired 100% of OOO Healing Spring, the company that produces Essentuki brand mineral water and OOO Geyser, owner of Essentuki water wells, in a transaction worth approximately US$4.1 million.
Famous in Soviet times, Essentuki is still one of Russia's best-known mineral water brands. The number of Wimm-Bill-Dann manufacturing facilities has now reached 24.
"Having recently entered the fast expanding water market, we remain true to our long-term strategy of providing our customers with the highest quality goods in each segment we are present in. With the acquisition of Essentuki, we are not just acquiring highest quality natural water wells, healing springs and bottling facilities at the source, but an excellent and well-known brand name. Essentuki is a welcome addition to our diverse portfolio of trusted and easily recognized brands." Michael Kondyrev, head of Wimm-Bill-Dann Mineral Water Division, said.
Source: Wimm-Bill-Dann Foods OJSC