Sofia, April 29 - Bulgarian water bottler Devin, owned by Austria's Soravia Group, hopes to acquire up to three beverage companies in the Balkans in the next two years, its chief executive said on Tuesday.
Tsvetan Lazhanski said Devin, which has about 30 percent of the Bulgarian market, may invest up to 50 million euros ($77.88 million) per acquisition but declined to name any potential targets or countries.
"We definitely intend to buy ... up to three strong companies, as part of our strategy to make Devin a regional leader," Lazhanski told Reuters in an interview.
With a planned new bottling line and export boost, Lazhanski predicted about a 15 percent rise in earnings before interest, tax, depreciation and amortisation (EBITDA) in 2008. He said he expected similar stable growth over the next few years.