Lőrinc Mészáros sold the Karcag plastics processor to Mol at a significant profit

The construction of the Karcag PET processor started in 2013, the original cost was three billion forints, for which the previous owner, the Aquarius-Aqua group, received two billion forints from the EU. Aquarius-Aqua, once the country’s largest mineral water company, ran into financial difficulties after construction was completed after the founder, who became known as the “mineral water king”, was involved in a VAT fraud case and was arrested. After the collapse of the business group, the plant went to Lőrinc Mészáros, which was now bought by Mol.

In the course of the transaction, Mészáros’ private equity fund received 3.5 billion forints from Mol, which price could also be changed with additional modifying items based on the concluded contract. The previous owner, Lőrinc Mészáros, and his group acquired the plant for around HUF 650 million, so he was able to sell it at a significant profit.

The Aquarius-Aqua group of companies once had a 35% market share in Hungary, and their Albertirsa plant dominated the market for low-end mineral waters. However, bad business policies and management decisions led to failure, which ultimately led to the collapse of the company. One of the managers of Aquarius-Aqua, who stood trial for the crime of budget fraud, was sentenced by the Kecskemét Court in September to four years in prison and four years of disqualification from public affairs, although the sentence is not yet final.

It is not the first time that Mol buys a company from Mészáros’ interests; At the beginning of September, it also bought Vivienvíz Kft., another company producing mineral water, from the Mészáros group. With this, Mol further expands its interest in recycling and the domestic mineral water market, in line with its commitment to the circular economy.
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