Mineral water bottlers Szentkiralyi, Kekkuti close first year of joint operation with profit

szkHun mineral water bottlers Kekkuti Asvanyviz and Szentkiralyi Asvanyviz had revenue of HUF 15bn in the first year after their merger, up 13pc from the two companies’ results in the previous year.In volume terms, sales came to 360m litres of mineral water in 2015, up 14pc from a year earlier,  Central European Mineral Water Holding (CEMW), the owner of the two companies told. At the same time, Hungary’s mineral water market grew 10.5pc in value terms, according to Nielsen. CEMW said Kekkuti has become profitable again after several loss-making years and Szentkiralyi has strengthened its position as a result of the integration. The company plans to invest millions of euros in Kekkut (W Hungary) this year, they added. CEMW was established in 2015 by Italy’s Pasquale family, the owner of the Karlovarske Mineralni Vody Group, and Levente Balogh, the owner of Szentkiralyi Asvanyviz. CEMW Holding acquired Kekkuti Asvanyviz in March 2015 and Szentkiralyi Asvanyviz in April 2015.