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Olvi has completed its acquisition of Värska Originaal, bringing Estonia's leading mineral water producer into the Finnish beverage group's growing portfolio of non-alcoholic brands.
The transaction closed on June 19 after receiving approval from Estonia's Competition Authority and overcoming a challenge from a third party, whose request for interim legal protection temporarily delayed completion, Olvi announced recently. The acquisition was carried out through Olvi's Estonian subsidiary, A. Le Coq, which acquired 100% of Värska Originaal's shares.
The deal was first announced in September 2025 as part of Olvi's strategy to increase the share of non-alcoholic products in its business. At the time, the company said the acquisition would increase its non-alcoholic beverage sales volume by about 10% while strengthening its position in a category benefiting from growing consumer demand for healthier drinks.
"Already, more than 40% of our total sales volume comes from non-alcoholic products," Olvi Group CEO Patrik Lundell said when the acquisition was announced. He described the deal as "another concrete step in executing our multi-local growth strategy."
Founded in 1993, with production roots dating back to 1973, Värska Originaal produces natural mineral water, infused waters, and functional beverages from southeastern Estonia. The company employs around 70 people and produced 44 million liters of beverages in 2025.
The acquisition continues a period of expansion for the Iisalmi-based group. Over the past year, Olvi has acquired Latvia's Valmiermuižas alus, Bosnia and Herzegovina's largest brewery Banjalučka Pivara, and a majority stake in Brewery International, a beverage import and distribution group operating in Norway and Sweden.
The addition of Värska Originaal broadens Olvi's business beyond its brewing roots and highlights a wider shift across the beverage industry toward non-alcoholic categories and wellness-focused products.
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