This summer's high temperatures drove sales of La Fantana, the largest bottler of still water for water coolers, to more than 19m euros in the first nine months, reaching the value initially forecast for the entire year.
"We've already topped the 19m-euro sales target in Romania and Serbia. By yearend, we could reach 22m euros," stated Cristian Amza, general manager and majority shareholder of La Fantana. The company is looking at the Czech, Greek and Ukrainian markets for one or several acquisitions, in line with its regional expansion strategy. A deal might be finalised this year. La Fantana recently entered the segment of household consumers, by launching Stil La Fantana.
La Fantana accounts for around 70% of the domestic market of bottled water for water coolers and around 60% of the Serbian market. The bottler saw its sales advance by 38% in the first half of this year against the same period in 2006, to 10m euros. Turnover generated on the Romanian market in the first six months amounted to 8m euros, while sales in Serbia reached 2m euros during the same period.
In April, Oresa Ventures, the majority shareholder in La Fantana Romania and La Fantana Serbia, sold La Fantana to Innova Capital investment fund. Warsaw-based Innova Capital acquired 92% in La Fantana from Oresa and Cristian Amza, the founder of the company. Amza owns the remaining 8%.
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