Danone has agreed to acquire a majority stake in UK-based bottled water company Harrogate Water for an undisclosed sum.
Harrogate Water is the owner of the British bottled water brand Harrogate Spring Water, as well as the charitable water brand Thirsty Planet.
Danone will acquire the stake in the company through its Danone Waters UK & Ireland subsidiary, and the addition of the Harrogate Spring Water brand expands Danone’s existing bottled water range, which already includes major brands such as Evian and Volvic.
Danone claims that the purchase will significantly expand Danone Water’s position in the UK market and support further growth opportunities for Harrogate’s bottled water portfolio.
The current shareholders of Harrogate Water, the Cain family, will remain as minority shareholders, while current Harrogate Waters CEO James Cain will join the management team of Danone Waters UK.
James Pearson, managing director of Danone Waters UK & Ireland, said: “I am thrilled to welcome Harrogate Water to the Danone family. This move will expand our offering in the UK and help to meet growing demand in sparkling water and on-the-go consumption.
“Danone’s heritage and strength lies in doing business in a responsible way: one that recognises the importance of sustainable growth alongside a commitment to protect our planet, promote health and value the people within our company and those we partner with.
“We’ve been impressed with Harrogate Water’s commitment to these same values, including a shared ambition to become BCorp certified and to protecting our unique water sources, and we are excited to support the next step of their journey, inspiring more people towards healthier hydration.”
James Cain, Harrogate Water CEO, added: “We are delighted to have found the right partner to take Harrogate Water forward on its journey, while respecting and celebrating our history and heritage.
“Danone and Harrogate Water have a shared ethos and approach to community and sustainability. As a family business, we are all about our people; our colleagues, partners and customers. Together with the team at Danone we are confident we will continue this success, with a considered, like-minded approach.”
The completion of the acquisition is subject to regulatory approval.
By Martin White
Source: FoodBev
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