C. Sivasankaran-owned Siva Group has invested $ 22 million in Isklar, a Norwegian glacial natural mineral water company. This investment gives the Siva group a 50 per cent equity holding in Isklar. Following this, the Siva Group bas become an equal partner in Isklar with Sabco, a premier water brand from Oman, and Jova Holdings, whose owners are also involved in a major Norwegian shipping and logistics company.
“Isklar” is a pure Norwegian glacial natural mineral water. It was launched in the U.K. in April 2008 and in its home market Norway in February 2009. In the U.K., the brand is sold in three of the main retailers (Tesco, Sainsbury’s and Waitrose), two of the largest convenience chains (Londis and Nisa) and two key forecourt chains (Esso and Total). It is also available in high-end department stores such as Harrods and Wholefoods. In its home market, Isklar is also sold in Norway’s major convenience and forecourt chains including Narvesen, 7-Eleven, Deli de Luca, Shell, Esso and Statoil.
“Siva Group has always believed in spotting business opportunities ahead of time and further enhancing the value of the business it has entered. This present acquisition reinforces the vision of Siva Group and we will look forward to expand the operations of the brand in other international markets,” says V. Srinivasan, CEO of the Siva Group. According to him, the Siva Group is keen to bring the Isklar brand into India anytime soon. Mr. Srinivasan said that currently only one-third of Isklar's capacity was utilized. Efforts were on to step up capacity use and improve market penetration, he added. The investments into Isklar were done through its overseas investment ventures, he added.
“Isklar”, which means “ice clear” in Norway, is a pure glacial natural mineral water brand that starts life as ‘pure ice’ in the glaciers of Hardanger. During its natural filtration through ice and hard aquifer rock, Isklar absorbs extraordinarily few minerals, which contributes to the smooth taste of this product, and its low sodium content.
