Issuing a statement on Tuesday, CG said the acquisition was a part of its plan to diversify into the natural spring water business.[break]
CG-Raybot said it would export the natural spring water to international markets through its already existing network. “CG-Raybot has already entered into agreement with few overseas parties to bring this into reality,” the statement added.
Raybot Springs Mineral Water was established in mid-1990s and was bottling natural spring water from its own source where water flows through layers of geological formations at the foothills of the Kathmandu Valley.
“Each product from the production line passes through numerous strict quality inspections,” reads the statement.
Raybot´s bottled spring water brands have been certified by international agencies and have even been awarded by International Quality Award, Italy. So far, the company was bottling and marketing Thirst Pi and Thirst Ta in 500 ml, 1000 ml, 1.5 liter and 2.5 liter bottles.
Under the new plan, CG-Raybot also plans to market its products more aggressively in the domestic market as well. For this, the joint venture is investing on upgrading the current production infrastructure and diversifying into products like carbonated flavored drinks, energy drinks, soda and tonic water.
The size of bottled water market in the country is presently estimated at Rs 500 million per annum.
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