US soft drink manufacturer Cott is acquiring the business of Eden Springs, the parent company of Israeli mineral water producer Mey Eden, for $535 million (NIS 2 billion) from Rhone Capital. The merged company will be the world's leading water and coffee solutions platform.
Cott has over 9,500 employees, with business in the US, Canada, Mexico, and the UK. The company exports soft drink concentrates to over 50 countries. The Eden Springs acquisition will bring its business turnover to $3.5 billion.
Eden Springs CEO Raanan Zilberman will continue to lead and develop the company, with a focus on investments in organic growth, development of new products, and acquisitions of companies in Europe and Israel whose business complements that of Eden Springs.
Completion of the deal is slated for the third quarter of the year, contingent on a number of the usual suspending conditions (including regulatory approval) and adaption of the acquisition price.
Eden Springs has a customer base consisting of more than 800,000 business and private customers in 18 countries, with a million water and coffee machines. The company has over 3,200 employees, with business in Israel and Europe, including 28 production plants, 150 branches, and a fleet of over 1,150 service vehicles.
Zilberman said, “Eden is a successful business and a natural fit with the wider Cott family. This transaction is an important step as we strengthen our international capability and develop our market leading position.
Published by Globes [online], Israel business news - www.globes-online.com - on June 7, 2016
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