US: Another acquisition for Vermont Holdings
Vermont Pure Holdings announced today that it has acquired the assets of Evans Quality Coffee Service of New England, Incorporated based in Dedham, Massachusetts. Evans is a distributor of bottled water and office refreshment products in the Boston metropolitan market.
"We are pleased to add these accounts to our new operation in Waltham, Massachusetts as they will provide added density to our existing route delivery territory," said Peter Baker, president of Vermont.
Revenue for the acquired account base is US$700,000 on an annual basis. The acquisition was funded out of current cash flow.
"We have closed five similar acquisitions in fiscal year 2004 and continue to execute our strategy of building route profitability through increased density," said Tim Fallon, CEO of Vermont.
"This acquisition continues to add to the development of the Boston metropolitan marketplace," continued Fallon.
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