Mineral water magnate Levente Balogh, the founder of leading Hungarian brand Szentkirályi, aims to expand his business through acquisitions in the region, in alliance with Italy’s Pasquale family, business daily Világgazdaság said.         We are trying to expand with acquisitions in Europe, first of all in central Europe. Talks are ongoing in several countries. There is still nothing finalized, but we’re trying to expand, Balogh told the paper. Mainly we want to buy brands, acquiring either the market leader or one of the top three players in neighbouring countries; then bring them into the holding company, he added. Central European Mineral Water Holding (CEMW), a joint venture established by Balogh and the Pasquales, acquired Szentkirályi and Hungarian peer Kékkúti a little more than a year ago. The competition on the domestic market is very big, regardless of the fact that the Szentkirályi and Kékkúti brands have 38% market share. I hope this year we’ll reach 40%, he said. Mineral water industry is one of the fields, where investors, using the benefits of the Hungarian Residency Program can find new opportunities.

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