Eden Springs Acquires Five Water Cooler Businesses From Nestlé Waters Direct
Eden Springs, a leading provider of office water and coffee solutions in Europe, has confirmed the acquisition of five water cooler businesses, for an undisclosed sum, from Nestlé Waters Direct (NWD), a division of Nestlé Waters. The deal involves the acquisition of NWD’s water cooler activities in five European countries.
Already servicing offices with water and/or coffee across 15 countries, this acquisition provides the Swiss-headquartered company with important new markets in Germany, Russia and Portugal, and enhanced positions in Poland and the Netherlands. The NWD acquisition will increase Eden’s installed client base from over 650,000 to approximately one million. The deal is expected to increase Eden’s annual turnover by about 30%, from over €280 million to approximately €370 million, and strengthens its brand within the European water and coffee market.
The acquisition reflects Eden Springs’ confidence in the present and future growth of the European water and coffee market following a period of contraction during the recession. The company believes now is the time to harness the opportunity to expand its offerings of both water and coffee to a larger potential client base in Europe.
Chief executive officer of Eden Springs, Raanan Zilberman, comments: “The acquisition of Nestlé Waters Direct is an additional important milestone in realizing Eden’s vision to be every European workplace’s favorite water and coffee service provider. The deal will strengthen both our brand’s presence and position. The new scale will enable Eden to continue to invest in its service excellence and product innovation for our current and future customers in Europe.”
Eden Springs launched its first water operation starting in 1997 and expanded into France, Switzerland, Spain, the UK, Poland and other European countries. In 2010, Eden enlarged its offer to include office coffee services (OCS), providing employers with a ‘one-stop shop’ for all their water and coffee solution needs. A strong service culture has helped Eden to grow a large customer base of blue chip organisations, public sector bodies and small- and medium-sized businesses throughout Europe.
The acquisition will be financed through a combination of equity and debt. It is subject to customary regulatory and other approvals.
Founded in 1992, Nestlé Waters is the world’s leading bottled water company, with consolidated sales of SFr7.2 billion in 2013, representing around 8% of total Nestlé group sales. Nestlé Waters operates 100 bottling factories in 35 countries and manages a 59-brand portfolio among which are Nestlé Pure Life, Perrier, S.Pellegrino, Poland Spring, Vittel, Nestlé Aquarel, Naleczowianka and others.
