Abu Dhabi firm buys Turkish water producer
DUBAI, United Arab Emirates—Abu Dhabi state-backed food and drink company Agthia Group is buying Turkish spring water producer Pelit Su for an undisclosed amount.
Agthia said Sunday it expects to acquire all of Pelit Su's shares during the first half of 2012.
Financial details weren't disclosed.
Agthia Chairman Rashed Mubarak al-Hajeri says the deal is in line with the company's plans to expand its geographic reach. Agthia's business is currently focused on the Arab Gulf states and Egypt.
Pelit Su is a family-run bottled water producer set up in 2009 in the southern Turkish city of Adana.