The United States (U.S.) beverage company PepsiCo said on Tuesday that it had inked a deal to buy a 20 per cent equity stake in Romanian spring water brand- AQUA Carpatica.
This happened for an undisclosed sum.
According to the deal, PepsiCo will have rights to distribute the spring water in Romania and in Poland with opportunities to expand into other markets, including the U.S.
PepsiCo said the premium water brand would round out its portfolio of offerings in Europe with plans to expand globally.
Silviu Popovici, CEO of PepsiCo Europe, said: “With its excellent taste and premium positioning, AQUA Carpatica is a perfect complement to PepsiCo’s existing premium beverage portfolio.’’
Founded in 2010, AQUA Carpatica’s product line included still spring water and natural mineral waters that were bottled at the source in Romania’s pristine Carpathian Mountains.
In other news, some occupants of illegal structures and shanties in Kuje Area Council have been rendered homeless following the demolition of their property by the FCT Administration.
Reports have that many of the displaced persons are scavengers, miscreants and motorcycle operators, popularly known as ‘Okada’.
The Department of Development Control and Sanitation of FCTA embarked on the demolition of illegal structures and shanties in Kuje Area Council, FCT.
The Federal Capital Territory Administration (FCTA) had earlier warned of plans to remove illegal structures along the Tipper Garage, Forest Market and Kuje-Gwagwalada road axis of the city.
The authorities said that before the demolition, scavengers, miscreants, Okada riders and some criminal elements used the shanties and other illegal structures as their safe heaven.
Our correspondent also reports that the affected people were seen stranded at the Tipper Garage and Forest Market areas after the exercise started on Monday.
Some residents of Kuje said the exercise should be used to checkmate insecurity by finding out the identities of the affected people.
But speaking, Senior Special Assistant on Monitoring, Inspection and Enforcement to the Minister of FCT, Mr Ikharo Attah, said the demolition was aimed at constructing a befitting road to end congestion of vehicles on the busy road.
Attah disclosed that the congestion of vehicles on the road was being compounded by illegal trading, expansion and unconventional markets, all over the road shoulders.
He explained that some of the structures had been marked for long and adequate publicity was given to the general public.
“We have seen that there is heavy roadside trading, illegal attachments, expansion towards the road and indiscriminate roadside markets.
“We have also assessed the situation and have notified the general public before now,” he explained.
Meanwhile, concerned persons, motorists and commuters are already groaning over the exercise.
Some of them who spoke on the development called for speedy completion of the demolition to free the traffic flow, and ease loss of man-hours.
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