July 2026 – Kinstellar has successfully advised Grupa Maspex (Maspex), one of Central and Eastern Europe’s largest food and beverage producers, on its acquisition of Carpathian Mineral Waters, a leading Ukrainian mineral water, soft drinks, and snacks producer and distributor.
The team in Ukraine was led by Olena Kuchynska (Partner), who oversaw the corporate aspects of the transaction, with support from Ihor Kitela (Of Counsel) and Mykola Lykhoglyad (Managing Associate). Competition matters were handled by Yulia Eismont (Counsel), assisted by Olena Tsygulska (Associate).
International legal advice was provided by MJH Moskwa, Jarmul, Haładyj i Partnerzy, acting as leading transaction counsel, while Doxa Capital acted as financial adviser to Maspex.
"We are proud to have supported Maspex in this significant transaction. This acquisition not only reinforces Maspex’s leadership in the region but also demonstrates continued confidence in Ukraine’s consumer market."
Olena Kuchynska, Partner at Kinstellar's Kyiv office
About Maspex:
Grupa Maspex sp. z o.o. is one of the largest food and beverage producers in Central and Eastern Europe. Its portfolio includes iconic brands such as Tymbark, Kubuś, DrWitt (juices and drinks), Lubella (pasta), Łowicz (jams and sauces), and alcoholic beverages including Żubrówka, Soplica, Absolwent, and Bols. Maspex products are sold in over 60 countries worldwide.
