This represents direct water deliveries to 38,000 business customers in France, with an annual turnover of €18.5m. The Eden Group will pay Nestlé France €9.5m, of which €8m on signing the contract and the balance on completing the transaction after about four months.
Raanan Zilberman, president of the Eden Springs Group, said: “We constantly continue to try to base our status as the leading brand in the drinking water solutions market in every country in which we operate. Thus also in France where we serve 61,000 offices and workplaces, we hold before completing the transaction a 25% market share.
“The Eden Springs’ strategy is to expand our operations in a combination of organic growth and acquisitions. In recent years, the company carried out a significant number of acquisitions of competing companies, including in France.”
The Eden Springs Group started its operations in France in 2001. The company operates under the French brand name Chateaud’eau, and is present in the bottled water cooler market as well as in the mains-fed water cooler market.
With this transaction, Chateaud’eau will become market leader in France.
Source: Eden Springs
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