The brewery and beverage production company “Cēsu alus” has concluded a deal with “Orkla Latvija” on the sale of the water brand “Everest”. The transaction also includes the transfer of water production equipment to the ownership of “Cēsu alus”. Water brand “Everest” is a strong brand in the water market and will now be added to the product portfolio of “Cēsu alus”; the development of the brand and new products are planned in the future.
Eva Sietiņsone, Chairman of the Board, JSC “Cēsu alus”: “The long-term strategy for “Cēsu alus” is aimed at developing a multi-beverage production plant, with a focus on expansion in the non-alcoholic beverage segment. The drinking water market continues to grow, as do healthy lifestyle trends and we see the potential in expanding our product portfolio and developing the brand of drinking water “Everest”. We will make sure that consumers have access to high-quality water and we will create innovative products in the water segment in the future.”
““Orkla Latvija” takes care of the development of dozens of different brands, most of which are in the food, snack and confectionery category. It is our core competence that we want to strengthen and develop. Currently, our attention is focused on the active development of the new “Laima” production plant in Ādaži, the development of the biscuit and waffle plant “Selga” in Ādaži, which is prospective most modern Scandinavian plant of its kind, as well as on the important sustainability decisions by placing our powerful water brand “Everest” in the hands of professionals in this category,” explains Toms Didrihsons, Chairman of the Board of “Orkla Latvija”.
Drinking water “Everest” has been available on the Latvian market since 1997. On the market, there are available carbonated, still and lightly carbonated “Everest” water varieties.
A report has now been submitted to the Competition Council and the conclusion of the transaction is planned after its review and approval by the Competition Council. The acquisition of the water brand “Everest” will be completed after reviewing the report and obtaining permission from the Competition Council. The transaction amount is confidential.