Olvi Group expands range of non-alcoholic products and acquires Estonia’s leading mineral water producer Värska Originaal AS
Olvi Group has agreed to acquire Estonia's leading mineral water producer, Värska Originaal AS. This acquisition aligns with Olvi’s strategic objectives, expanding the non-alcoholic products in its portfolio, while also unlocking new growth opportunities in export markets. The transaction is expected to be completed in the first quarter of 2026, pending approval from the local competition authority.
Värska Originaal AS is the leading mineral water producer in Estonia. Founded in 1993 with the roots of the operations dating back to 1973, the company produces its high-quality products in Värska, in Southeast Estonia. In addition to natural mineral waters, their popular product range also includes infused and functional waters. The company employes around 70 people and in 2024 its production volume was 45 million litres.
"This is another concrete step in executing our multi-local growth strategy. We have stated that we are seeking inorganic growth in Europe through acquisitions, and it is our strategic goal to expand the share of our non-alcoholic products. The global trend toward health and wellness continues, and the popularity of non-alcoholic beverages keeps rising. We are pleased to complement our portfolio with Värska’s well-established brand and to continue growing together, says Olvi Group CEO, Patrik Lundell.
Värska Originaal AS’ operations are profitable, and with synergies, they are expected to further increase Olvi Group’s profitability. As a result of the acquisition, Olvi Group's range of non-alcoholic products will expand, and production capacity will increase, enabling the sales volume of non-alcoholic products to grow by approximately 10%. Värska products are also exported outside Estonia to countries such as Latvia, Lithuania, Finland, Sweden and Ireland.
“Already, more than 40% of our total sales volume comes from non-alcoholic products, and at the beginning of the year we launched 87 non-alcoholic novelties. Offering a diverse range of products that meet consumer demand and evolving preferences is our strength, and with this acquisition, we will be able to provide consumers with even more moments of enjoyment,” concludes Lundell.
The transaction is expected to be completed in Q1 2026, pending approval from the Estonian competition authority. The value and the terms of the transaction are not disclosed.
Olvi Group
Olvi is an international multi-beverage company, founded in 1878 in Iisalmi, Finland. It is known for its broad product portfolio including beers, waters, ciders, long drinks, soft drinks, wines, juices, and sports, wellness, and energy drinks, as well as award-winning distillates. The selection is complemented by leading international and local brand partnerships. Olvi has operations in Finland, Estonia, Latvia, Lithuania, Belarus, and Denmark, and a presence in 80 export markets. In 2024, the company’s net sales were EUR 656.9 million. Olvi’s vision is to be the most wanted multi-local beverage house and its over 2,400 professionals are dedicated to providing consumers with moments of enjoyment through high-quality, diverse products. www.olvigroup.fi
