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Friday, August 31, 2012

“Borjomi” may change owners

31.08.2012 (Hvino News). Well-known Georgian mineral water brand “Borjomi” may soon change its owner after the brand has been put for sale, Russian business daily Kommersant reported today.

According to the paper’s sources, the initial value of the IDS-Borjomi Beverages N.V. is evaluated at 400-500 million USD. Some big Western and Russian companies have already put an eye on the brand. Standard Capital, Ashmore Investment, Russian Direct Investment Fund, TPG Capital, Klever Asset Management and AFK Sistema were named among those looking to buy IDS Borjomi from Salford Capital Partners, which is controlled by Russian tycoon Boris Berezovsky.

Russian authorities banned the Georgian-produced mineral water — along with Georgian wine — from the country in 2006, citing poor quality of the product. Until then, Russia was the brand's biggest market. The company's share in the market was over 10 percent, according to AC Nielsen.

Company's annual turnover is estimated at $200-250 million. Besides mineral water bottling plant in Borjomi the company has plants in Ukraine. Management of IDS-Borjomi in Georgia is related also to Georgian wine brands Château Mukhrani and GWS.

© Hvino News

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