Cott Corporation has made a further acquisition as part of its expansion strategy, as the company’s Eden Springs subsidiary has fully-acquired Hungarian water company ClearWater for an undisclosed sum.
The acquisition of ClearWater marks Eden Springs’ entry into the Hungarian market, and will add approximately 14,000 water dispensers to Eden’s network.
This purchase also includes intellectual property for a carbonation technology patent that will provide customers with carbonated water through mains-fed (point-of-use) dispensers and bottled water dispensers.
According to a statement from Cott, Eden Springs plans to introduce ClearWater’s carbonation technology to other markets in the future.
Antonio Alarcon, president of Eden Springs Continental Europe, said: “ClearWater is the market leader in providing water across Hungary, with significant density in Budapest, and shares our commitment to excellence.
“We are excited to expand our presence to Hungary and look forward to welcoming ClearWater’s customers and associates to the Eden Springs family.”
Scott Nicol, owner of ClearWater added: “Eden Springs has a strong reputation of quality and commitment to service.
“Moving forward into 2020, in addition to our sparkling water and technology, our customers will now benefit from even more water and coffee solutions for their hydration needs.”
This latest purchase follows Cott’s announcement earlier this week that it intended to offload its S&D Coffee & Tea division, as the company aims to become a “pure-play” water solutions provider. This announcement was preceded by a number of recent acquisitions by Cott and its subsidiaries in the water sector.
These acquisitions included the purchase of The Water Guy by Cott’s DS Services division in November, while Eden Springs has also acquired water companies Viteau and Watercooler Gigant in the last few months.
© FoodBev Media Ltd 2019