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*Acquisitions company Heckmann, headed by Richard Heckmann, is set to purchase China Water & Drinks for approximately $625 million. On completion of the sale, the Chinese company will become a wholly owned subsidiary of Heckmann. *

Mr Heckmann said that the acquisition marked the foundation of a global water company, citing the importance of the product and the potential for growth in a Chinese market which has not yet reached saturation point. China Water & Drinks ranks fifth among competitors in the country, where consumption of bottled water grew at a compound annual growth rate of 17.5% between 2002 and 2007, which is the fastest rate of growth worldwide, and double the rate of growth in the US.

Through its production facilities in Guangzhou, Zhanjiang, Feixian, Changchun, Nanning and Shenyang, China Water & Drinks produces and distributes bottled water to fourteen provinces and regions in China.

Besides its Darcunk and Darquan bottled water product, the company also supplies purified water to both local and international beverage brands such as Coca-Cola and Uni-President and provides private label bottled water for companies such as Sands Casino, Macau.

Richard Heckmann is founder of water company US Filter, which was sold for $6.2 billion in 1999.More news on China Water & Drinks and the Chinese bottled water market can be found in the latest issue of Water Innovation magazine.