Active in all three Baltic countries, Estonia, Latvia and Lithuania, Eden Springs employs over 60 staff and serves 18,000 customers in the region. The acquisition will increase Eden’s market share in the Baltics by 33%.
As a result of the acquisition, 25 former UAB Nept?no vandens pristatymas staff will join the Eden Springs team at its Lithuanian offices and depots, located in Vilnius, Kaunas and Klaipeda. Total revenue for the combined company is approximately €2m per annum.
Eden Springs Baltics will strengthen the existing product offering in terms of new PET bottle solutions to include lemon flavoured mineral water, which will be distributed under the brand name, Neptunas, the company said.
CEO of the Eden Springs Group, Raanan Zilberman, said: “The decision to acquire UAB Nept?no vandens pristatymas in Lithuania is in line with our strategy to expand the group’s operations through organic growth and acquisitions. In the Baltic markets we have a solid management team led by Naveen Singh, who has been our MD for the last nine years.
“I have every confidence that the local team will integrate very successfully with UAB Nept?no vandens pristatymas, leading to increased customer satisfaction and further business growth in this region.”
In addition to expanding in the water cooler industry, Eden Springs Baltics is also introducing coffee solutions to its business customers through its European partner Lavazza.
Source: Eden Springs
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