EY assisted PepsiCo Inc. with the acquisition of a 20% stake in AQUA Carpatica

EY assisted PepsiCo Inc. with the acquisition of a 20% stake in AQUA Carpatica

AQUA Carpatica will complement PepsiCo's existing premium beverage portfolio in Europe with plans to expand globally

EY Romania's Strategy and Transactions team working together with EY United States, provided PepsiCo Inc. with financial and tax due diligence services.

On 2 August 2022, PepsiCo Inc. announced a strategic agreement with AQUA Carpatica, under which PepsiCo acquired a minority stake of 20% in AQUA Carpatica, a premium natural mineral water brand bottled at source in the Carpathian Mountains. The strategic agreement provides PepsiCo with distribution rights for Romania and Poland with opportunities to expand into other markets, including the United States. AQUA Carpatica will complement PepsiCo's existing premium beverage portfolio in Europe with plans to expand globally.

The value of the transaction was not disclosed.

"With its excellent taste and premium positioning, AQUA Carpatica is a perfect complement to PepsiCo's existing premium beverage portfolio," said Silviu Popovici, CEO of PepsiCo Europe. "We are confident that AQUA Carpatica's strong brand equity will resonate with our customers and consumers globally."

 “We are honored to have assisted PepsiCo with its expansion in the European natural mineral water industry. This truly landmark transaction with a premium Romanian brand, brought great satisfaction to the team. We would like to thank PepsiCo for the trust they placed in EY ” said Peter Latos, head of Consulting, Strategy and Transactions for EY Romania and Moldova.

EY assisted PepsiCo throughout the process, including financial and tax due diligence and negotiation of the share-purchase agreement. The EY team in Romania was coordinated by Peter Latos and Alina Ararau for financial assistance and by Andra Casu and Cristina Clujescu for tax assistance. The EY team in the United States was coordinated by Philippe Leroy and Pierre Bonneau.

EY30 for Romania

To mark 30 years of continuous activity in Romania, the EY: 30 for Romania program was launched and will run throughout 2022. Projects, personalities and moments that have marked Romania's progress in 30 years will be brought to the public's attention, collaborative community engagement initiatives will be carried out with EY partners and collaborators.

About EY Romania

EY is one of the world's largest global professional services firms, with 312,250 employees in more than 700 offices in 150 countries and revenues of approximately $40 billion in the fiscal year ending June 30, 2021. Their network is the most integrated globally, and the resources within it help them provide clients with services that enable them to take advantage of opportunities around the world.

Present in Romania since 1992, EY is the market leader in professional services. Its more than 800 employees in Romania and the Republic of Moldova provide integrated audit, tax, legal, strategy and transaction advisory services to multinational and local companies. We have offices in Bucharest, Cluj-Napoca, Timisoara, Iasi and Chisinau. EY Romania joined in 2014 the only worldwide competition dedicated to entrepreneurs, EY Entrepreneur Of The Year. The winner of the local edition represents Romania in the world finals that take place every year in June in Monte Carlo. The World Entrepreneur Of The Year title is awarded in the global final.

About PepsiCo

PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $79 billion in net revenue in 2021, driven by a complementary beverage and convenient foods portfolio that includes Lay's, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker, and SodaStream. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that generate more than $1 billion each in estimated annual retail sales. Guiding PepsiCo is our vision to Be the Global Leader in Beverages and Convenient Foods by Winning with PepsiCo Positive (pep+). pep+ is our strategic end-to-end transformation that puts sustainability and human capital at the center of how we will create value and growth by operating within planetary boundaries and inspiring positive change for planet and people. For more information, visit www.pepsico.com, and follow on Twitter, Instagram, Facebook, and LinkedIn @PepsiCo.