Balan takes over Heineken's mineral water business

Ioan Balan, the Covasna-based entrepreneur who collected at least 7 million euros from the sale of Covalact dairy producer, last month took over the mineral waters plant that entered Heineken’s portfolio when it acquired the Bere Mures business in March 2008, according to industry sources. The deal was worth a few million euros, according to ZF estimates. Ioan Balan and Heineken representatives could not be contacted by the time this issue was ready for print. Balan, 61, has, therefore, placed part of the money collected in 2007 from selling the majority stake in Covalact in the food industry, as well. According to the cited sources, Ioan Balan could be involved in this deal with a partner, but the partner’s identity has not been revealed. The business taken over by Ioan Balan from Heineken includes a mineral waters bottling plant in Bacaia, Hunedoara county, which produces the nationwide distributed Cezara and Cheile Cibului brands.